Public Service Enterprise Group Incorporated $PEG Shares Purchased by Shelton Capital Management

Shelton Capital Management boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 2,176.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,108 shares of the utilities provider’s stock after acquiring an additional 61,292 shares during the quarter. Shelton Capital Management’s holdings in Public Service Enterprise Group were worth $5,397,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research reports. Wells Fargo & Company began coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 price objective for the company. BTIG Research assumed coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price objective on the stock. Barclays lifted their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. BMO Capital Markets reduced 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 research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, November 19th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $91.19.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group 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 completion of the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $81.57 on Tuesday. 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 Incorporated has a 52 week low of $74.67 and a 52 week high of $94.99. The firm’s 50 day moving average is $82.33 and its two-hundred day moving average is $82.68. The firm has a market capitalization of $40.72 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last posted its 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 the consensus estimate of $2.80 billion. During the same period in the previous year, the business earned $0.90 EPS. The business’s quarterly revenue 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. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

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.