Tableaux LLC Purchases New Shares in Public Service Enterprise Group Incorporated $PEG

Tableaux LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 150,000 shares of the utilities provider’s stock, valued at approximately $12,627,000. Public Service Enterprise Group makes up approximately 0.9% of Tableaux LLC’s holdings, making the stock its 11th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. TFB Advisors LLC grew its stake in shares of Public Service Enterprise Group by 4.8% during the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after purchasing an additional 119 shares during the last quarter. Massachusetts Wealth Management lifted its holdings in Public Service Enterprise Group by 2.5% during the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after buying an additional 125 shares in the last quarter. Apollon Wealth Management LLC boosted its position in Public Service Enterprise Group by 0.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock valued at $1,315,000 after buying an additional 126 shares during the last quarter. FourThought Financial Partners LLC boosted its position in Public Service Enterprise Group by 2.8% in the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after buying an additional 127 shares during the last quarter. Finally, Summit Financial LLC raised its position in shares of Public Service Enterprise Group by 2.2% during the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock worth $507,000 after acquiring an additional 133 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.6%

Shares of Public Service Enterprise Group stock opened at $81.25 on Friday. The firm has a market cap of $40.56 billion, a PE ratio of 20.52, a P/E/G ratio of 2.46 and a beta of 0.55. The business’s 50 day simple moving average is $82.19 and its 200 day simple moving average is $82.46. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22.

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

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is 60.58%.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PEG has been the subject of a number of research reports. Barclays lifted their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Public Service Enterprise Group in a research report on Wednesday. UBS Group boosted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, BTIG Research started coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price for the company. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.19.

About Public Service Enterprise Group

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.