Foundations Investment Advisors LLC Acquires 32,630 Shares of Public Service Enterprise Group Incorporated $PEG

Foundations Investment Advisors LLC raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 138,945 shares of the utilities provider’s stock after acquiring an additional 32,630 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Public Service Enterprise Group were worth $11,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Public Service Enterprise Group by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after buying an additional 2,986,646 shares in the last quarter. Geode Capital Management LLC grew its stake in Public Service Enterprise Group by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock worth $1,049,973,000 after acquiring an additional 110,087 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Public Service Enterprise Group by 2.3% during the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider’s stock worth $600,317,000 after acquiring an additional 162,261 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Public Service Enterprise Group by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock valued at $395,354,000 after acquiring an additional 806,782 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 5.2% in the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider’s stock valued at $385,439,000 after purchasing an additional 230,636 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $82.81 on Friday. The company has a 50 day moving average of $82.16 and a two-hundred day moving average of $82.39. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a market cap of $41.34 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55.

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

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PEG shares. Evercore ISI began coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price for the company. TD Cowen raised their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective for the company. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, Barclays boosted their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $91.19.

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.