Public Service Enterprise Group Incorporated $PEG Shares Sold by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC reduced its stake in Public Service Enterprise Group by 48.6%, holding 57,216 shares worth approximately $4.82 million after selling 54,019 shares.
• Public Service Enterprise Group reported a 15.8% increase in revenue year-over-year for the latest quarter, with earnings per share of $0.77, exceeding analyst estimates by $0.07.
• The stock has a current market cap of $41.78 billion and has recently received varying ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $91.79.

Mutual of America Capital Management LLC trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 48.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 57,216 shares of the utilities provider's stock after selling 54,019 shares during the period. Mutual of America Capital Management LLC's holdings in Public Service Enterprise Group were worth $4,816,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after purchasing an additional 2,803 shares during the period. Janney Montgomery Scott LLC lifted its position in Public Service Enterprise Group by 2.5% in the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider's stock valued at $5,812,000 after buying an additional 1,652 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Public Service Enterprise Group by 22.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider's stock worth $6,192,000 after buying an additional 13,540 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock valued at $7,417,000 after acquiring an additional 3,601 shares during the last quarter. Finally, Chemistry Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $579,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Trading Up 0.7%

NYSE:PEG opened at $83.72 on Thursday. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The firm has a market cap of $41.78 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.55 and a beta of 0.53. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock has a fifty day moving average price of $82.53 and a 200 day moving average price of $82.29.

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

Analyst Ratings Changes

PEG has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a "market perform" rating for the company in a research report on Monday. Evercore ISI began coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an "in-line" rating and a $83.00 price target on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. UBS Group increased their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Morgan Stanley dropped their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.79.

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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