Wealth Enhancement Advisory Services LLC Reduces Stock Position in Public Service Enterprise Group Incorporated $PEG

Wealth Enhancement Advisory Services LLC decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,216 shares of the utilities provider’s stock after selling 1,910 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Public Service Enterprise Group were worth $7,161,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC boosted its holdings in shares of Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after buying an additional 162 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group in the first quarter worth approximately $32,000. Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the first quarter worth approximately $33,000. Zions Bancorporation National Association UT purchased a new position in shares of Public Service Enterprise Group in the first quarter worth approximately $50,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Public Service Enterprise Group by 105.9% in the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after buying an additional 361 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were 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 approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PEG has been the topic of several analyst reports. Wall Street Zen raised shares of 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 shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. 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 report on Wednesday, August 6th. Barclays reduced their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Finally, Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $91.55.

Public Service Enterprise Group Trading Up 0.5%

Shares of PEG opened at $82.11 on Wednesday. The company’s fifty day moving average is $84.37 and its 200 day moving average is $82.14. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The stock has a market capitalization of $40.98 billion, a PE ratio of 20.73, a P/E/G ratio of 2.84 and a beta of 0.50. 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 (NYSE:PEG) last announced 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 company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Sell-side analysts expect 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 63.64%.

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.