Amalgamated Bank Has $8.22 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Amalgamated Bank lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.6% during the 2nd quarter, Holdings Channel reports. The firm owned 97,643 shares of the utilities provider’s stock after selling 4,656 shares during the quarter. Amalgamated Bank’s holdings in Public Service Enterprise Group were worth $8,220,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 2.3% in the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider’s stock valued at $600,317,000 after purchasing an additional 162,261 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Public Service Enterprise Group by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock valued at $395,354,000 after purchasing an additional 806,782 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 5.2% in the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider’s stock valued at $385,439,000 after purchasing an additional 230,636 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Public Service Enterprise Group by 1.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider’s stock valued at $251,979,000 after purchasing an additional 31,631 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PEG shares. 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. Evercore ISI began coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price on the stock. BMO Capital Markets cut their target price on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating on the stock in a research report on Monday, October 20th. Wells Fargo & Company began coverage on shares of Public Service Enterprise Group in a research report on Tuesday. They set an “equal weight” rating and a $88.00 target price on the stock. Finally, Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $91.21.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $80.76 on Friday. The stock has a 50-day moving average of $82.12 and a 200-day moving average of $82.37. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. 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 stock has a market cap of $40.30 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the prior year, the business earned $0.63 EPS. Public Service Enterprise Group’s revenue for the quarter was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

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.