Signature Wealth Management Partners LLC Boosts Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Signature Wealth Management Partners LLC significantly increased its stake in Public Service Enterprise Group (PEG) by 266.5% in Q2, acquiring a total of 27,641 shares valued at $2.32 million.
• Analysts have mixed ratings for PEG, with a consensus price target of $91.85, and at least seven analysts recommending a "Buy".
• PEG recently announced a $0.63 quarterly dividend, yielding 3.1%, with a payout ratio of 63.64%.

Signature Wealth Management Partners LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 266.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,641 shares of the utilities provider's stock after buying an additional 20,099 shares during the quarter. Public Service Enterprise Group makes up 1.3% of Signature Wealth Management Partners LLC's investment portfolio, making the stock its 14th largest holding. Signature Wealth Management Partners LLC's holdings in Public Service Enterprise Group were worth $2,327,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. Headlands Technologies LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth $33,000. Marshall & Sullivan Inc. WA acquired a new position in Public Service Enterprise Group during the 2nd quarter worth $33,000. Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group during the 1st quarter worth $50,000. Finally, Sound Income Strategies LLC grew its stake in Public Service Enterprise Group by 105.9% during the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock worth $58,000 after purchasing an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

PEG has been the subject of several analyst reports. Barclays lowered their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. UBS Group upped their price objective on 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. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Saturday, September 27th. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

Public Service Enterprise Group Stock Up 0.5%

PEG opened at $82.02 on Friday. The company has a market cap of $40.93 billion, a PE ratio of 20.71, a P/E/G ratio of 2.83 and a beta of 0.53. The business has a 50 day moving average price of $83.92 and a two-hundred day moving average price of $82.23. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. 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 (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. Investors of record on Tuesday, September 9th were issued a $0.63 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group's dividend payout ratio 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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