Public Service Enterprise Group Incorporated $PEG Shares Purchased by Savant Capital LLC

Savant Capital LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,215 shares of the utilities provider’s stock after acquiring an additional 786 shares during the quarter. Savant Capital LLC’s holdings in Public Service Enterprise Group were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Quaero Capital S.A. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $461,000. SouthState Corp increased its holdings in Public Service Enterprise Group by 76.9% in the second quarter. SouthState Corp now owns 2,545 shares of the utilities provider’s stock valued at $214,000 after buying an additional 1,106 shares in the last quarter. Sound Shore Management Inc CT raised its position in shares of Public Service Enterprise Group by 32.6% in the second quarter. Sound Shore Management Inc CT now owns 1,025,471 shares of the utilities provider’s stock worth $86,324,000 after acquiring an additional 252,375 shares during the period. Resona Asset Management Co. Ltd. raised its position in shares of Public Service Enterprise Group by 6.4% in the second quarter. Resona Asset Management Co. Ltd. now owns 177,681 shares of the utilities provider’s stock worth $14,941,000 after acquiring an additional 10,699 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $250,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of several recent analyst reports. TD Cowen lifted their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target on the stock. Finally, Morgan Stanley cut 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 report on Thursday, September 25th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $82.35 on Friday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The firm has a market capitalization of $41.11 billion, a PE ratio of 20.80, a P/E/G ratio of 2.46 and a beta of 0.55. The business’s 50 day moving average price is $82.13 and its 200-day moving average price is $82.38.

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 for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm posted $0.90 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were 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 in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.