Janney Montgomery Scott LLC Buys 1,652 Shares of Public Service Enterprise Group Incorporated $PEG

Janney Montgomery Scott LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,045 shares of the utilities provider’s stock after acquiring an additional 1,652 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Public Service Enterprise Group were worth $5,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock valued at $3,922,000 after purchasing an additional 2,803 shares during the last quarter. Sowell Financial Services LLC purchased a new position in Public Service Enterprise Group in the 1st quarter worth $298,000. Exchange Traded Concepts LLC raised its stake in Public Service Enterprise Group by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock worth $327,000 after acquiring an additional 447 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Public Service Enterprise Group by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock worth $7,417,000 after acquiring an additional 3,601 shares during the last quarter. Finally, Chemistry Wealth Management LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter worth $579,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $81.84 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The business has a 50-day moving average price of $83.81 and a 200 day moving average price of $82.21. The firm has a market cap of $40.84 billion, a PE ratio of 20.67, a P/E/G ratio of 2.85 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $0.63 EPS. Public Service Enterprise Group’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. Sell-side analysts predict 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 was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 63.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PEG shares. UBS Group raised their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Morgan Stanley reduced 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 note on Thursday, September 25th. Finally, Barclays reduced 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 note on Thursday, July 10th. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $91.85.

Public Service Enterprise Group Company 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.