Magellan Asset Management Ltd Boosts Position in Public Service Enterprise Group Incorporated $PEG

Magellan Asset Management Ltd increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 354,187 shares of the utilities provider’s stock after buying an additional 31,486 shares during the period. Magellan Asset Management Ltd owned 0.07% of Public Service Enterprise Group worth $29,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TFB Advisors LLC raised its position in Public Service Enterprise Group by 4.8% in the 2nd quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 119 shares during the period. Massachusetts Wealth Management increased its position in shares of Public Service Enterprise Group by 2.5% during the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after buying an additional 125 shares during the period. Apollon Wealth Management LLC raised its position in shares of Public Service Enterprise Group by 0.8% in the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after acquiring an additional 126 shares in the last quarter. FourThought Financial Partners LLC raised its holdings in Public Service Enterprise Group by 2.8% in the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock worth $378,000 after purchasing an additional 127 shares in the last quarter. Finally, Summit Financial LLC lifted its position in Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after acquiring an additional 133 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.0%

PEG stock opened at $83.26 on Friday. The firm has a fifty day moving average price of $82.02 and a 200 day moving average price of $82.34. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The firm has a market cap of $41.56 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business earned $0.90 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PEG shares. Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective on the stock. Morgan Stanley dropped their price objective on 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. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday. UBS Group raised 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. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $91.19.

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.