Belpointe Asset Management LLC Has $1.20 Million Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Belpointe Asset Management LLC increased its stake in Public Service Enterprise Group by 385.3%, bringing its holdings to approximately $1.20 million as of the latest SEC filing.
• Public Service Enterprise Group reported $2.81 billion in revenue for the latest quarter, exceeding analyst expectations, and announced a quarterly dividend of $0.63, yielding about 3.1%.
• Analysts maintain a consensus rating of “Moderate Buy” for the stock, with a target price of approximately $90.95, reflecting mixed evaluations from various research firms.

Belpointe Asset Management LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 385.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,196 shares of the utilities provider's stock after purchasing an additional 11,271 shares during the period. Belpointe Asset Management LLC's holdings in Public Service Enterprise Group were worth $1,195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 2.3% during the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock worth $600,317,000 after buying an additional 162,261 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Public Service Enterprise Group by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider's stock worth $395,354,000 after buying an additional 806,782 shares during the last quarter. Raymond James Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 5.2% during the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock worth $385,439,000 after buying an additional 230,636 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Public Service Enterprise Group by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider's stock worth $251,979,000 after buying an additional 31,631 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of recent research reports. Barclays reduced their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Morgan Stanley reduced their price objective 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. UBS Group increased their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a research note on Tuesday. They set an "in-line" rating and a $83.00 price objective for the company. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Stock Down 1.7%

Public Service Enterprise Group stock opened at $80.44 on Wednesday. The stock has a market cap of $40.14 billion, a P/E ratio of 20.31, a P/E/G ratio of 2.85 and a beta of 0.53. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The company's 50-day moving average price is $83.65 and its two-hundred day moving average price is $82.20.

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 for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business's revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

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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