Key Financial Inc Sells 4,611 Shares of Public Service Enterprise Group Incorporated $PEG

Key Financial Inc reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 65.2% during the second quarter, HoldingsChannel reports. The firm owned 2,463 shares of the utilities provider’s stock after selling 4,611 shares during the quarter. Key Financial Inc’s holdings in Public Service Enterprise Group were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Public Service Enterprise Group by 22.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after acquiring an additional 13,540 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Public Service Enterprise Group by 2.5% in the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock valued at $5,812,000 after purchasing an additional 1,652 shares during the last quarter. Chemistry Wealth Management LLC bought a new position in Public Service Enterprise Group in the second quarter valued at about $579,000. Intech Investment Management LLC boosted its stake in shares of Public Service Enterprise Group by 69.6% during the first quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock valued at $1,918,000 after purchasing an additional 9,563 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new stake in shares of Public Service Enterprise Group during the first quarter worth about $775,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI started 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. Barclays lifted their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. Morgan Stanley decreased their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. BTIG Research initiated coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Finally, UBS Group increased their price target 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. One 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.04.

Public Service Enterprise Group Price Performance

PEG stock opened at $81.81 on Wednesday. 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 firm has a market cap of $40.83 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.46 and a beta of 0.53. The company’s fifty day simple moving average is $82.07 and its 200 day simple moving average is $82.33. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22.

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 for the quarter, topping the consensus estimate of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, 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.