IFG Advisory LLC Invests $246,000 in Public Service Enterprise Group Incorporated $PEG

IFG Advisory LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,923 shares of the utilities provider’s stock, valued at approximately $246,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. TFB Advisors LLC lifted its position in Public Service Enterprise Group by 4.8% in the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 119 shares during the period. Massachusetts Wealth Management lifted its holdings in shares of Public Service Enterprise Group by 2.5% in the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after buying an additional 125 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Public Service Enterprise Group by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock valued at $1,315,000 after buying an additional 126 shares during the period. FourThought Financial Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 2.8% in the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after buying an additional 127 shares during the period. Finally, Summit Financial LLC lifted its holdings in Public Service Enterprise Group by 2.2% in the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after acquiring an additional 133 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

PEG opened at $81.36 on Tuesday. The stock has a fifty day moving average of $82.10 and a 200-day moving average of $82.35. The firm has a market capitalization of $40.60 billion, a P/E ratio of 20.54, a PEG ratio of 2.46 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 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) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target for the company. Wells Fargo & Company assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price for the company. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Barclays increased their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Finally, Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.21.

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.