Simplicity Wealth LLC Purchases New Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Simplicity Wealth LLC acquired a new stake in Public Service Enterprise Group, purchasing 5,884 shares valued at approximately $495,000 during the 2nd quarter.
• Public Service Enterprise Group reported a quarterly earnings of $0.77 per share, beating analysts' expectations, with a revenue increase of 15.8% year-over-year.
• The company recently paid a quarterly dividend of $0.63, resulting in an annualized dividend yield of 3.1%.

Simplicity Wealth LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,884 shares of the utilities provider's stock, valued at approximately $495,000.

A number of other hedge funds have also added to or reduced their stakes in PEG. Procyon Advisors LLC bought a new position in Public Service Enterprise Group in the 1st quarter worth about $232,000. UMB Bank n.a. grew its stake in Public Service Enterprise Group by 38.2% in the 1st quarter. UMB Bank n.a. now owns 12,224 shares of the utilities provider's stock worth $1,006,000 after acquiring an additional 3,382 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $258,000. Farther Finance Advisors LLC lifted its position in shares of Public Service Enterprise Group by 58.1% in the 1st quarter. Farther Finance Advisors LLC now owns 5,978 shares of the utilities provider's stock worth $498,000 after purchasing an additional 2,196 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of Public Service Enterprise Group by 4.1% in the 1st quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider's stock worth $587,000 after purchasing an additional 279 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEG. Morgan Stanley lowered 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 research report on Thursday, September 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Saturday, September 27th. Evercore ISI began coverage on shares of Public Service Enterprise Group in a research report on Tuesday. They issued an "in-line" rating and a $83.00 price target for the company. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Finally, Barclays lowered their price target 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. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $90.95.

Public Service Enterprise Group Trading Down 1.7%

NYSE PEG opened at $80.44 on Wednesday. The company has a fifty day simple moving average of $83.65 and a two-hundred day simple moving average of $82.20. The stock has a market cap of $40.14 billion, a P/E ratio of 20.31, a P/E/G ratio of 2.85 and a beta of 0.53. 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 current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

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, topping 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 business's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid 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 presently 63.64%.

About Public Service Enterprise Group

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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