Benjamin Edwards Inc. Has $3.82 Million Stake in Public Service Enterprise Group Incorporated $PEG

Benjamin Edwards Inc. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1,316.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,757 shares of the utilities provider’s stock after acquiring an additional 42,526 shares during the period. Benjamin Edwards Inc.’s holdings in Public Service Enterprise Group were worth $3,819,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. HB Wealth Management LLC grew its holdings in Public Service Enterprise Group by 13.9% during the third quarter. HB Wealth Management LLC now owns 19,623 shares of the utilities provider’s stock valued at $1,638,000 after purchasing an additional 2,401 shares during the period. Childress Capital Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the third quarter valued at $246,000. Park Avenue Securities LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter valued at $2,138,000. KLP Kapitalforvaltning AS grew its stake in shares of Public Service Enterprise Group by 8.2% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 339,909 shares of the utilities provider’s stock worth $28,369,000 after acquiring an additional 25,700 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of Public Service Enterprise Group by 0.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 45,781 shares of the utilities provider’s stock worth $3,821,000 after acquiring an additional 318 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 1.6%

Shares of PEG opened at $78.67 on Friday. The stock has a market capitalization of $39.27 billion, a P/E ratio of 18.91, a PEG ratio of 2.21 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The firm has a fifty day simple moving average of $80.87 and a two-hundred day simple moving average of $82.55.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The company 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 firm earned $0.90 earnings per share. Public Service Enterprise Group’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. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is 60.58%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. TD Cowen upped 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. JPMorgan Chase & Co. lowered their price target on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. 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 target on the stock. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. Finally, UBS Group lowered their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.35.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.