Asset Management One Co. Ltd. Decreases Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Asset Management One Co. Ltd. has reduced its stake in Public Service Enterprise Group Incorporated by 5.8%, now holding 319,507 shares valued at approximately $26.9 million.
• Public Service Enterprise Group recently reported a 15.8% increase in revenue year-over-year, with a quarterly revenue of $2.81 billion and earnings per share of $0.77, surpassing analysts' expectations.
• Analysts are generally optimistic about the stock, with a consensus rating of Moderate Buy and a target price of $91.79, following several upgrades and a report of significant interest from institutional investors.

Asset Management One Co. Ltd. decreased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 319,507 shares of the utilities provider's stock after selling 19,690 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of Public Service Enterprise Group worth $26,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keener Financial Planning LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $27,000. Headlands Technologies LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter worth about $32,000. Marshall & Sullivan Inc. WA purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth about $33,000. Wealth Preservation Advisors LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter worth about $33,000. Finally, Costello Asset Management INC increased its position in shares of Public Service Enterprise Group by 290.6% during the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider's stock worth $45,000 after acquiring an additional 401 shares during the period. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.02 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $41.43 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.53 and a beta of 0.53. The company's 50-day moving average is $82.41 and its two-hundred day moving average is $82.37. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22.

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 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm's revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. 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. BTIG Research started coverage on shares of Public Service Enterprise Group in a report on Wednesday. They issued a "buy" rating and a $98.00 price target for the company. 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 target price for the company. Morgan Stanley reduced 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 report on Thursday, September 25th. Finally, Barclays raised their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.79.

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.

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.