BLI Banque de Luxembourg Investments Makes New $4.45 Million Investment in Public Service Enterprise Group Incorporated $PEG

BLI Banque de Luxembourg Investments acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 53,300 shares of the utilities provider’s stock, valued at approximately $4,450,000.

A number of other hedge funds also recently made changes to their positions in the stock. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $27,000. GoalVest Advisory LLC increased its stake in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $32,000. Marshall & Sullivan Inc. WA purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $33,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $33,000. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of analyst reports. Barclays increased their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. BTIG Research assumed coverage on Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective for the company. Morgan Stanley decreased their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Public Service Enterprise Group in a report on Wednesday, November 19th. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.19.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $83.52 on Monday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $94.99. The business has a 50 day simple moving average of $82.33 and a two-hundred day simple moving average of $82.66. The stock has a market capitalization of $41.69 billion, a PE ratio of 21.09, a P/E/G ratio of 2.46 and a beta of 0.55.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

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.