Profund Advisors LLC Buys 5,986 Shares of Public Service Enterprise Group Incorporated $PEG

Profund Advisors LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,754 shares of the utilities provider’s stock after buying an additional 5,986 shares during the period. Profund Advisors LLC’s holdings in Public Service Enterprise Group were worth $2,168,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group during the second quarter valued at approximately $27,000. GoalVest Advisory LLC increased its stake in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $32,000. Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $33,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $33,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 0.1%

Shares of PEG stock opened at $83.19 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $41.52 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The stock’s 50-day moving average price is $82.04 and its 200-day moving average price is $82.35.

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 the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the business posted $0.90 EPS. The firm’s revenue for the quarter 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. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent analyst reports. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price target for the company from $89.00 to $90.00 in a report on Thursday, November 6th. Barclays upped their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Morgan Stanley decreased their target price on 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. BMO Capital Markets lowered their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Finally, Evercore ISI began coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.19.

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.