Fortis Capital Advisors LLC Takes $957,000 Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Fortis Capital Advisors LLC acquired a new stake in Public Service Enterprise Group, investing approximately $957,000 for 11,371 shares in the second quarter.
• Public Service Enterprise Group reported $0.77 EPS for the recent quarter, exceeding analysts' expectations, with quarterly revenue increasing 15.8% year-over-year.
• The company announced a quarterly dividend of $0.63 per share, representing an annualized dividend yield of 3.1%.

Fortis Capital Advisors LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,371 shares of the utilities provider's stock, valued at approximately $957,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Hilltop National Bank acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $1,180,000. Triad Wealth Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 12.5% in the second quarter. Triad Wealth Partners LLC now owns 5,207 shares of the utilities provider's stock valued at $438,000 after purchasing an additional 577 shares in the last quarter. ASR Vermogensbeheer N.V. lifted its holdings in shares of Public Service Enterprise Group by 2.0% in the second quarter. ASR Vermogensbeheer N.V. now owns 152,952 shares of the utilities provider's stock valued at $12,875,000 after purchasing an additional 3,066 shares in the last quarter. Consolidated Planning Corp lifted its holdings in shares of Public Service Enterprise Group by 13.7% in the second quarter. Consolidated Planning Corp now owns 19,294 shares of the utilities provider's stock valued at $1,624,000 after purchasing an additional 2,324 shares in the last quarter. Finally, Woodward Diversified Capital LLC lifted its holdings in shares of Public Service Enterprise Group by 80.9% in the second quarter. Woodward Diversified Capital LLC now owns 5,768 shares of the utilities provider's stock valued at $486,000 after purchasing an additional 2,580 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Trading Up 0.5%

Public Service Enterprise Group stock opened at $82.02 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 company has a market capitalization of $40.93 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 2.83 and a beta of 0.53. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The company's fifty day moving average price is $83.92 and its two-hundred day moving average price is $82.23.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $0.63 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group's payout ratio is presently 63.64%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of research analyst reports. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Saturday, September 27th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. UBS Group increased their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Morgan Stanley reduced their target price on 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. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and a consensus price target of $91.85.

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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