Princeton Global Asset Management LLC Decreases Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Princeton Global Asset Management LLC has reduced its stake in Public Service Enterprise Group (PEG) by 25.8%, resulting in ownership of 10,369 shares valued at approximately $873,000.
• Public Service Enterprise Group reported $0.77 earnings per share for the last quarter, exceeding analysts' estimates of $0.70, while revenue reached $2.81 billion, above expectations of $2.49 billion.
• Analysts have varied ratings on PEG, with target prices ranging from $82.00 to $105.00, reflecting a consensus average price target of $91.14 and an overall "Moderate Buy" rating.

Princeton Global Asset Management LLC lowered its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 25.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,369 shares of the utilities provider's stock after selling 3,598 shares during the period. Princeton Global Asset Management LLC's holdings in Public Service Enterprise Group were worth $873,000 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. Keener Financial Planning LLC purchased a new stake in Public Service Enterprise Group during the second quarter worth about $27,000. Headlands Technologies LLC purchased a new stake in Public Service Enterprise Group during the first quarter worth about $32,000. Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group during the first quarter worth about $33,000. Marshall & Sullivan Inc. WA acquired a new position in Public Service Enterprise Group during the second quarter worth about $33,000. Finally, Costello Asset Management INC raised its position in Public Service Enterprise Group by 290.6% during the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider's stock worth $45,000 after acquiring an additional 401 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $84.77 on Monday. The firm has a 50 day simple moving average of $82.74 and a 200-day simple moving average of $82.23. 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 firm has a market cap of $42.30 billion, a PE ratio of 21.41, a P/E/G ratio of 2.60 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22.

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, beating analysts' consensus estimates of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company's revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous 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, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Wall Street Analyst Weigh In

PEG has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. TD Cowen initiated coverage on shares of Public Service Enterprise Group in a research report on Thursday. They set a "buy" rating and a $93.00 target price for the company. UBS Group lifted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Barclays cut their target price 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 report on Thursday, July 10th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average price target of $91.14.

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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