Centennial Wealth Advisory LLC Decreases Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Centennial Wealth Advisory LLC reduced its stake in Public Service Enterprise Group (PEG) by 44.9%, now holding 5,040 shares valued at approximately $424,000.
• Public Service Enterprise Group announced a quarterly dividend of $0.63, representing an annual yield of 3.0%, with the payment date set for September 30.
• PEG reported a quarterly earnings per share (EPS) of $0.77, exceeding expectations, and experienced a 15.8% year-over-year revenue growth.

Centennial Wealth Advisory LLC trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 44.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,040 shares of the utilities provider's stock after selling 4,102 shares during the period. Centennial Wealth Advisory LLC's holdings in Public Service Enterprise Group were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PEG. Headlands Technologies LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter worth $32,000. Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group in the 1st quarter worth $33,000. Marshall & Sullivan Inc. WA acquired a new position in Public Service Enterprise Group in the 2nd quarter worth $33,000. Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group in the 1st quarter worth $50,000. Finally, Sound Income Strategies LLC lifted its holdings in Public Service Enterprise Group by 105.9% in the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock worth $58,000 after buying an additional 361 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $82.98 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock has a market cap of $41.42 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50. The company has a 50-day moving average price of $84.27 and a two-hundred day moving average price of $82.23.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data 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 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 last year, the firm posted $0.63 earnings per share. 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.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. UBS Group boosted 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 report on Friday, July 25th. Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Barclays cut their price objective 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. Finally, BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $91.85.

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.

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