Sequoia Financial Advisors LLC Has $2.03 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Public Service Enterprise Group (PEG) by 17.9%, now owning 24,072 shares valued at approximately $2.03 million.
• Major institutional investors, including Vanguard Group and UBS AM, have also recently adjusted their positions, with Vanguard's stake valued at over $5.24 billion.
• The company reported a net margin of 17.78% with revenue up 15.8% year-over-year, and is forecasting 3.94 to 4.06 EPS for FY 2025.

Sequoia Financial Advisors LLC grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 17.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,072 shares of the utilities provider's stock after buying an additional 3,650 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Public Service Enterprise Group were worth $2,026,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after acquiring an additional 2,986,646 shares in the last quarter. Nuveen LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at about $95,076,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at about $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Public Service Enterprise Group by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider's stock valued at $395,354,000 after purchasing an additional 806,782 shares during the last quarter. Finally, Reaves W H & Co. Inc. boosted its stake in shares of Public Service Enterprise Group by 58.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider's stock valued at $108,002,000 after purchasing an additional 483,682 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PEG. Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Morgan Stanley reduced 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 research note on Thursday, September 25th. UBS Group lifted their price objective on shares of 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. Weiss Ratings reissued a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Finally, Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an "in-line" rating and a $83.00 price objective on the stock. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $84.66 on Thursday. 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 12-month low of $74.67 and a 12-month high of $95.22. The company has a market capitalization of $42.25 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.53 and a beta of 0.53. The firm's 50 day moving average is $82.86 and its 200-day moving average is $82.21.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $2.49 billion. During the same period last year, the company earned $0.63 earnings per share. The firm's revenue 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 research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 63.64%.

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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