Onyx Bridge Wealth Group LLC Invests $260,000 in Public Service Enterprise Group Incorporated $PEG

Key Points

• Onyx Bridge Wealth Group LLC has invested $260,000 in Public Service Enterprise Group, acquiring 3,093 shares in the second quarter.
• Public Service Enterprise Group reported a 12.08% return on equity and a revenue increase of 15.8% year-over-year, with a quarterly revenue of $2.81 billion.
• Analysts have varying ratings on the stock, with an average rating of "Moderate Buy" and a target price of $91.79.

Onyx Bridge Wealth Group LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,093 shares of the utilities provider's stock, valued at approximately $260,000.

Several other large investors also recently made changes to their positions in the stock. Cullen Frost Bankers Inc. boosted its stake in shares of Public Service Enterprise Group by 2.2% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 18,501 shares of the utilities provider's stock worth $1,557,000 after acquiring an additional 404 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $31,685,000. Spirit of America Management Corp NY boosted its stake in shares of Public Service Enterprise Group by 9.3% during the 2nd quarter. Spirit of America Management Corp NY now owns 14,150 shares of the utilities provider's stock worth $1,191,000 after acquiring an additional 1,200 shares in the last quarter. Hamlin Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 0.7% during the 2nd quarter. Hamlin Capital Management LLC now owns 2,476,266 shares of the utilities provider's stock worth $208,452,000 after acquiring an additional 16,951 shares in the last quarter. Finally, Stanley Laman Group Ltd. boosted its stake in shares of Public Service Enterprise Group by 17.0% during the 2nd quarter. Stanley Laman Group Ltd. now owns 3,522 shares of the utilities provider's stock worth $296,000 after acquiring an additional 512 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $83.72 on Thursday. The stock has a 50 day moving average of $82.53 and a two-hundred day moving average of $82.29. 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 12 month low of $74.67 and a 12 month high of $95.22. The company has a market capitalization of $41.78 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.55 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company earned $0.63 EPS. The company's quarterly 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. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PEG shares. Barclays upped their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Evercore ISI initiated coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an "in-line" rating and a $83.00 target price for the company. 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 research note on Friday, July 25th. BMO Capital Markets decreased their target price on Public Service Enterprise Group from $89.00 to $85.00 and set a "market perform" rating for the company in a research note on Monday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $91.79.

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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