MGO One Seven LLC Raises Holdings in Public Service Enterprise Group Incorporated $PEG

MGO One Seven LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 287.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,633 shares of the utilities provider’s stock after buying an additional 21,243 shares during the quarter. MGO One Seven LLC’s holdings in Public Service Enterprise Group were worth $2,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. TFB Advisors LLC grew its holdings in Public Service Enterprise Group by 4.8% during the 2nd quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 119 shares in the last quarter. HM Payson & Co. boosted its stake in shares of Public Service Enterprise Group by 3.3% during the third quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 120 shares in the last quarter. Massachusetts Wealth Management increased its holdings in Public Service Enterprise Group by 2.5% during the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after buying an additional 125 shares during the period. Apollon Wealth Management LLC raised its stake in Public Service Enterprise Group by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after buying an additional 126 shares in the last quarter. Finally, Sowell Financial Services LLC lifted its holdings in Public Service Enterprise Group by 3.1% during the third quarter. Sowell Financial Services LLC now owns 4,525 shares of the utilities provider’s stock worth $378,000 after buying an additional 134 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. TD Cowen boosted their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price target for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. BTIG Research began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective on the stock. Finally, Wells Fargo & Company assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $91.35.

Insider Activity at Public Service Enterprise Group

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 transaction, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

PEG opened at $78.86 on Thursday. The company has a market cap of $39.36 billion, a P/E ratio of 18.96, a price-to-earnings-growth ratio of 2.23 and a beta of 0.60. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The firm’s 50-day moving average price is $80.74 and its 200-day moving average price is $82.46. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. Public Service Enterprise Group’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter 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. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.