TIAA Trust National Association Sells 3,885 Shares of Public Service Enterprise Group Incorporated $PEG

TIAA Trust National Association lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 26,435 shares of the utilities provider’s stock after selling 3,885 shares during the period. TIAA Trust National Association’s holdings in Public Service Enterprise Group were worth $2,225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at $27,000. GoalVest Advisory LLC raised its holdings in Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after buying an additional 225 shares during the last quarter. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC bought a new stake in Public Service Enterprise Group during the 1st quarter valued at $33,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at $33,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $81.36 on Tuesday. The stock has a market cap of $40.60 billion, a P/E ratio of 20.54, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. The firm’s fifty day simple moving average is $82.10 and its 200 day simple moving average is $82.35. 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.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a report on Monday, October 20th. TD Cowen began coverage on shares of Public Service Enterprise Group in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $91.21.

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.