Kayne Anderson Capital Advisors LP Has $5.53 Million Stake in Public Service Enterprise Group Incorporated $PEG

Kayne Anderson Capital Advisors LP lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 24.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,709 shares of the utilities provider’s stock after selling 20,759 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in Public Service Enterprise Group were worth $5,531,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at about $27,000. GoalVest Advisory LLC raised its holdings in Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after buying an additional 225 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $33,000. Finally, Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $33,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Down 2.5%

Shares of PEG opened at $79.79 on Thursday. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $39.82 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 2.46 and a beta of 0.55. The stock’s 50-day moving average price is $82.01 and its 200-day moving average price is $82.32.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. TD Cowen upped their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday. Barclays raised their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. UBS Group raised their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. BMO Capital Markets reduced their price objective on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday. Finally, Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.29.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.