Ballentine Partners LLC Buys 452 Shares of Public Service Enterprise Group Incorporated $PEG

Ballentine Partners LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,406 shares of the utilities provider’s stock after purchasing an additional 452 shares during the quarter. Ballentine Partners LLC’s holdings in Public Service Enterprise Group were worth $287,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at approximately $32,000. Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at $33,000. Wealth Preservation Advisors LLC bought a new stake in Public Service Enterprise Group in the first quarter valued at $33,000. Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group during the first quarter worth $50,000. Finally, Sound Income Strategies LLC lifted its holdings 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 valued at $58,000 after acquiring an additional 361 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $82.30 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market cap of $41.07 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50. The business’s fifty day moving average is $84.30 and its 200-day moving average is $82.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly 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. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 63.64%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares of the company’s stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEG. Barclays dropped their target price on shares of 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 report on Saturday, September 6th. UBS Group boosted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. BMO Capital Markets raised their price target on 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. Finally, Morgan Stanley cut their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.85.

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.