Public Service Enterprise Group Incorporated $PEG Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,435 shares of the utilities provider’s stock after selling 610 shares during the period. Meritage Portfolio Management’s holdings in Public Service Enterprise Group were worth $5,508,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Public Service Enterprise Group by 58.1% in the first quarter. Farther Finance Advisors LLC now owns 5,978 shares of the utilities provider’s stock worth $498,000 after acquiring an additional 2,196 shares during the period. GAMMA Investing LLC raised its position in shares of Public Service Enterprise Group by 4.1% in the first quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider’s stock worth $587,000 after acquiring an additional 279 shares during the period. SG Americas Securities LLC raised its position in shares of Public Service Enterprise Group by 15.8% in the first quarter. SG Americas Securities LLC now owns 11,848 shares of the utilities provider’s stock worth $975,000 after acquiring an additional 1,618 shares during the period. Fifth Third Bancorp raised its position in shares of Public Service Enterprise Group by 1.0% in the first quarter. Fifth Third Bancorp now owns 35,755 shares of the utilities provider’s stock worth $2,943,000 after acquiring an additional 371 shares during the period. Finally, NorthCrest Asset Manangement LLC raised its position in shares of Public Service Enterprise Group by 1.9% in the first quarter. NorthCrest Asset Manangement LLC now owns 9,054 shares of the utilities provider’s stock worth $745,000 after acquiring an additional 171 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEG has been the subject of a number of analyst reports. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday. Barclays decreased their price objective 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. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $90.95.

Public Service Enterprise Group Stock Down 1.0%

PEG opened at $80.57 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. 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 company has a 50-day moving average price of $83.17 and a 200 day moving average price of $82.18. The company has a market cap of $40.21 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’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. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $0.63 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is presently 63.64%.

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.