Public Service Enterprise Group Incorporated $PEG Shares Acquired by AlphaCore Capital LLC

AlphaCore Capital LLC grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 841.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,403 shares of the utilities provider’s stock after buying an additional 1,254 shares during the quarter. AlphaCore Capital LLC’s holdings in Public Service Enterprise Group were worth $118,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PEG. Keener Financial Planning LLC purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth about $27,000. GoalVest Advisory LLC lifted its holdings in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Public Service Enterprise Group in the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the first quarter worth about $33,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $33,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price objective on the stock. TD Cowen increased their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. BTIG Research started coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price objective on the stock. Finally, Morgan Stanley decreased their target price on shares of 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. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $91.19.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $82.14 on Wednesday. The firm has a market capitalization of $41.00 billion, a PE ratio of 20.74, a PEG ratio of 2.46 and a beta of 0.55. 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 business’s 50 day moving average is $82.19 and its 200-day moving average is $82.54. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the business earned $0.90 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is 60.58%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

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.