Pinnacle Wealth Planning Services Inc. Grows Holdings in Public Service Enterprise Group Incorporated $PEG

Pinnacle Wealth Planning Services Inc. raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,617 shares of the utilities provider’s stock after purchasing an additional 866 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Public Service Enterprise Group were worth $389,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $27,000. GoalVest Advisory LLC increased its position in shares of Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares during the period. Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $33,000. Finally, Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $33,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG opened at $82.41 on Wednesday. The firm has a market capitalization of $41.13 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The business’s 50-day moving average is $82.26 and its two-hundred day moving average is $82.46. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the business earned $0.90 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. 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 declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Analyst Ratings Changes

Several research firms have commented on PEG. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. Wells Fargo & Company started coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target on the stock. TD Cowen lifted their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Finally, BTIG Research began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $91.19.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

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.