Public Service Enterprise Group Incorporated $PEG Stock Position Increased by Parallel Advisors LLC

Parallel Advisors LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,185 shares of the utilities provider’s stock after purchasing an additional 169 shares during the period. Parallel Advisors LLC’s holdings in Public Service Enterprise Group were worth $268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. REAP Financial Group LLC raised its position in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $50,000. Finally, Sound Income Strategies LLC raised its position in shares of Public Service Enterprise Group by 105.9% during the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 361 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,387 shares of the firm’s stock in a transaction on 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 directly owned 218,328 shares in the company, valued at $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.5%

Shares of PEG opened at $81.57 on Monday. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. 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 stock has a 50 day simple moving average of $84.39 and a 200-day simple moving average of $82.12. The stock has a market cap of $40.71 billion, a PE ratio of 20.60, a PEG ratio of 2.84 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 63.64%.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Barclays lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. UBS Group lifted 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. Finally, Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $91.55.

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.