3,764 Shares in Public Service Enterprise Group Incorporated $PEG Purchased by Mutual Advisors LLC

Key Points

• Mutual Advisors LLC acquired 3,764 shares of Public Service Enterprise Group, valued at approximately $330,000, during the second quarter of the year.
• Institutional investors now hold 73.34% of Public Service Enterprise Group's stock, indicating significant interest from major stakeholders.
• Public Service Enterprise Group reported earnings of $0.77 EPS, surpassing analysts' expectations and showing a revenue increase of 15.8% year-over-year.

Mutual Advisors LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,764 shares of the utilities provider's stock, valued at approximately $330,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Public Service Enterprise Group by 4.1% in the 1st quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider's stock worth $587,000 after acquiring an additional 279 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Public Service Enterprise Group by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after purchasing an additional 3,601 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Public Service Enterprise Group by 1.2% during the first quarter. Janney Montgomery Scott LLC now owns 67,393 shares of the utilities provider's stock valued at $5,546,000 after purchasing an additional 783 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Public Service Enterprise Group by 0.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 67,260 shares of the utilities provider's stock valued at $5,536,000 after buying an additional 349 shares during the last quarter. Finally, Consolidated Planning Corp increased its holdings in Public Service Enterprise Group by 203.4% in the 1st quarter. Consolidated Planning Corp now owns 16,970 shares of the utilities provider's stock worth $1,397,000 after buying an additional 11,377 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PEG. Evercore ISI started coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an "in-line" rating and a $83.00 price target on the stock. Barclays dropped their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Finally, TD Cowen began coverage on Public Service Enterprise Group in a report on Thursday, October 16th. They issued a "buy" rating and a $93.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.77.

Public Service Enterprise Group Trading Up 0.2%

NYSE:PEG opened at $84.92 on Tuesday. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The business has a fifty day moving average price of $82.70 and a 200-day moving average price of $82.28. The firm has a market capitalization of $42.38 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

About Public Service Enterprise Group

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.

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