Public Service Enterprise Group Incorporated $PEG Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Public Service Enterprise Group by 20.6% during the second quarter, now holding 20,323 shares valued at approximately $1.71 million.
• Analysts rate the stock with an average target price of $90.95, with six rating it as a "Buy" and five as a "Hold."
• The company recently announced a quarterly dividend of $0.63 per share, providing a 3.1% dividend yield to shareholders.

Blair William & Co. IL lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 20.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,323 shares of the utilities provider's stock after selling 5,258 shares during the period. Blair William & Co. IL's holdings in Public Service Enterprise Group were worth $1,711,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PEG. Massachusetts Wealth Management raised its position in Public Service Enterprise Group by 2.5% during the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider's stock worth $431,000 after buying an additional 125 shares during the last quarter. FourThought Financial Partners LLC raised its position in Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after buying an additional 127 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after buying an additional 130 shares during the last quarter. Summit Financial LLC raised its position in Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock worth $507,000 after buying an additional 133 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Public Service Enterprise Group by 1.1% during the 2nd quarter. UMB Bank n.a. now owns 12,363 shares of the utilities provider's stock worth $1,041,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on PEG. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Barclays cut their price objective 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. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an "in-line" rating and a $83.00 price target for the company. UBS Group increased 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 report on Friday, July 25th. Finally, Morgan Stanley cut their price target on shares of 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. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $90.95.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $82.42 on Wednesday. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The stock has a market capitalization of $41.14 billion, a P/E ratio of 20.81, a P/E/G ratio of 2.51 and a beta of 0.53. The firm's 50-day moving average is $82.88 and its two-hundred day moving average is $82.19. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the company earned $0.63 EPS. The firm's revenue for the quarter was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 63.64%.

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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