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Public Service Enterprise Group Incorporated $PEG Shares Sold by Probity Advisors Inc.

Public Service Enterprise Group logo with Utilities background

Key Points

  • Probity Advisors Inc. has reduced its stake in Public Service Enterprise Group by 33.6%, now holding 8,405 shares worth approximately $708,000.
  • Several hedge funds have increased their holdings in the company, with Consolidated Planning Corp leading the way by boosting its stake by 203.4%.
  • Analysts have mixed ratings on the stock, with one rating it as a Strong Buy and others giving it a consensus target price of $90.77.
  • Five stocks we like better than Public Service Enterprise Group.

Probity Advisors Inc. cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 33.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,405 shares of the utilities provider's stock after selling 4,251 shares during the period. Probity Advisors Inc.'s holdings in Public Service Enterprise Group were worth $708,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PEG. GAMMA Investing LLC boosted its holdings in Public Service Enterprise Group by 4.1% during the first quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider's stock worth $587,000 after buying an additional 279 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in 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 worth $7,417,000 after buying an additional 3,601 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in Public Service Enterprise Group by 1.2% during the first quarter. Janney Montgomery Scott LLC now owns 67,393 shares of the utilities provider's stock worth $5,546,000 after buying an additional 783 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Public Service Enterprise Group by 0.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 67,260 shares of the utilities provider's stock worth $5,536,000 after buying an additional 349 shares in the last quarter. Finally, Consolidated Planning Corp boosted its holdings in Public Service Enterprise Group by 203.4% during the first quarter. Consolidated Planning Corp now owns 16,970 shares of the utilities provider's stock worth $1,397,000 after buying an additional 11,377 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PEG. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Barclays decreased their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a "market perform" rating on the stock in a report on Monday. Finally, Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $90.77.

View Our Latest Stock Analysis on PEG

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $84.92 on Tuesday. The firm has a 50-day simple moving average of $82.70 and a 200-day simple moving average of $82.28. The stock has a market capitalization of $42.38 billion, a price-to-earnings ratio of 21.44, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS 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 analysts' expectations 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 quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $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 predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

About Public Service Enterprise Group

(Free Report)

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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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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