Public Service Enterprise Group Incorporated $PEG Shares Bought by Cwm LLC

Cwm LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,969 shares of the utilities provider’s stock after buying an additional 1,253 shares during the quarter. Cwm LLC’s holdings in Public Service Enterprise Group were worth $1,513,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after buying an additional 2,986,646 shares during the period. Ameriprise Financial Inc. boosted its holdings in Public Service Enterprise Group by 2.3% in the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider’s stock valued at $600,317,000 after purchasing an additional 162,261 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Public Service Enterprise Group by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock worth $395,354,000 after purchasing an additional 806,782 shares in the last quarter. Raymond James Financial Inc. grew its stake in Public Service Enterprise Group by 5.2% during the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider’s stock worth $385,439,000 after purchasing an additional 230,636 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Public Service Enterprise Group by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider’s stock worth $251,979,000 after purchasing an additional 31,631 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEG has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Barclays cut 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 research note on Thursday, July 10th. UBS Group upped their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Evercore ISI assumed coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.77.

Public Service Enterprise Group Trading Up 0.2%

NYSE PEG opened at $84.92 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. The stock has a market capitalization of $42.38 billion, a P/E ratio of 21.44, a P/E/G ratio of 2.60 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The firm has a 50-day moving average price of $82.70 and a 200 day moving average price of $82.28.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the company posted $0.63 EPS. The business’s revenue for the quarter 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. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

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.