Geneos Wealth Management Inc. Grows Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Geneos Wealth Management Inc. lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,378 shares of the utilities provider’s stock after purchasing an additional 267 shares during the period. Geneos Wealth Management Inc.’s holdings in Public Service Enterprise Group were worth $360,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PEG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Public Service Enterprise Group by 37.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 63,350 shares of the utilities provider’s stock worth $5,352,000 after buying an additional 17,388 shares during the period. NorthRock Partners LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $227,000. ProShare Advisors LLC boosted its holdings in Public Service Enterprise Group by 14.1% in the fourth quarter. ProShare Advisors LLC now owns 75,500 shares of the utilities provider’s stock valued at $6,379,000 after acquiring an additional 9,318 shares in the last quarter. Toronto Dominion Bank increased its position in Public Service Enterprise Group by 25.5% during the 4th quarter. Toronto Dominion Bank now owns 276,773 shares of the utilities provider’s stock valued at $23,384,000 after purchasing an additional 56,273 shares during the period. Finally, Two Sigma Advisers LP bought a new position in Public Service Enterprise Group in the 4th quarter worth $600,000. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on PEG shares. UBS Group raised their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Morgan Stanley reduced their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 18th. Barclays lowered their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Six investment 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 target price of $91.55.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,387 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares of the company’s stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Up 0.4%

Shares of PEG stock opened at $83.02 on Tuesday. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The stock has a market cap of $41.43 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.88 and a beta of 0.50. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a 50 day simple moving average of $84.47 and a two-hundred day simple moving average of $82.11.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the company posted $0.63 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. Public Service Enterprise Group’s dividend payout ratio is presently 63.64%.

Public Service Enterprise Group 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.