Hilltop National Bank Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Key Points

• Hilltop National Bank has invested approximately $1.18 million by purchasing 14,012 shares of Public Service Enterprise Group Incorporated (PEG) in Q2.
• Public Service Enterprise Group reported quarterly earnings of $0.77 per share, surpassing analyst estimates, and had a revenue of $2.81 billion for the quarter.
• The company recently declared a quarterly dividend of $0.63 per share, reflecting a 3.1% dividend yield and a payout ratio of 63.64%.

Hilltop National Bank purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 14,012 shares of the utilities provider's stock, valued at approximately $1,180,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEG. Merit Financial Group LLC boosted its position in shares of Public Service Enterprise Group by 27.0% during the 1st quarter. Merit Financial Group LLC now owns 13,646 shares of the utilities provider's stock worth $1,123,000 after purchasing an additional 2,899 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Public Service Enterprise Group by 4.2% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 44,505 shares of the utilities provider's stock worth $3,663,000 after purchasing an additional 1,777 shares in the last quarter. Apella Capital LLC boosted its position in shares of Public Service Enterprise Group by 2.7% during the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after purchasing an additional 144 shares in the last quarter. Breakwater Capital Group boosted its position in shares of Public Service Enterprise Group by 27.0% during the 1st quarter. Breakwater Capital Group now owns 7,303 shares of the utilities provider's stock worth $601,000 after purchasing an additional 1,551 shares in the last quarter. Finally, Armstrong Fleming & Moore Inc bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $342,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 1.3%

PEG stock opened at $81.51 on Friday. The stock's fifty day simple moving average is $84.03 and its two-hundred day simple moving average is $82.23. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The stock has a market cap of $40.68 billion, a P/E ratio of 20.58, a P/E/G ratio of 2.87 and a beta of 0.53.

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 for the quarter, topping the consensus estimate 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 business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business's revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. UBS Group raised their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Barclays dropped their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

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.

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