iSAM Funds UK Ltd Purchases New Position in Public Service Enterprise Group Incorporated $PEG

iSAM Funds UK Ltd acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,646 shares of the utilities provider’s stock, valued at approximately $2,411,000.

Other large investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Keener Financial Planning LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $27,000. GoalVest Advisory LLC grew its stake in Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares during the period. Headlands Technologies LLC bought a new position in Public Service Enterprise Group in the first quarter worth $32,000. Finally, Wealth Preservation Advisors LLC bought a new position in Public Service Enterprise Group in the first quarter worth $33,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEG. Evercore ISI assumed 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 target price on the stock. TD Cowen boosted their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. BMO Capital Markets cut their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their target price for the company from $89.00 to $90.00 in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 1st. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $91.19.

Public Service Enterprise Group Stock Down 1.0%

Shares of Public Service Enterprise Group stock opened at $78.79 on Tuesday. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The stock has a market capitalization of $39.33 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.43 and a beta of 0.59. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The company has a 50-day simple moving average of $82.13 and a two-hundred day simple moving average of $82.73.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

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.