Triad Wealth Partners LLC Increases Holdings in Public Service Enterprise Group Incorporated $PEG

Triad Wealth Partners LLC raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 5,207 shares of the utilities provider’s stock after buying an additional 577 shares during the quarter. Triad Wealth Partners LLC’s holdings in Public Service Enterprise Group were worth $438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Merit Financial Group LLC boosted its holdings in Public Service Enterprise Group by 27.0% in the first quarter. Merit Financial Group LLC now owns 13,646 shares of the utilities provider’s stock valued at $1,123,000 after purchasing an additional 2,899 shares in the last quarter. Breakwater Capital Group lifted its position in shares of Public Service Enterprise Group by 27.0% during the 1st quarter. Breakwater Capital Group now owns 7,303 shares of the utilities provider’s stock worth $601,000 after buying an additional 1,551 shares during the last quarter. Armstrong Fleming & Moore Inc purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $342,000. Edge Wealth Management LLC boosted its holdings in shares of Public Service Enterprise Group by 2.2% in the 1st quarter. Edge Wealth Management LLC now owns 118,133 shares of the utilities provider’s stock valued at $9,722,000 after buying an additional 2,556 shares in the last quarter. Finally, Procyon Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter valued at $232,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research reports. Barclays reduced their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Morgan Stanley dropped their price target 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. UBS Group boosted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Saturday, September 27th. Seven 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 a consensus price target of $91.85.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $82.02 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The business has a 50 day simple moving average of $83.92 and a 200-day simple moving average of $82.23. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The stock has a market capitalization of $40.93 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.83 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group’s revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 63.64%.

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.