Vise Technologies Inc. Buys Shares of 7,754 Public Service Enterprise Group Incorporated $PEG

Vise Technologies Inc. purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,754 shares of the utilities provider’s stock, valued at approximately $653,000.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. TFB Advisors LLC grew its stake 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 valued at $220,000 after purchasing an additional 119 shares in the last quarter. Massachusetts Wealth Management lifted its holdings in shares of Public Service Enterprise Group by 2.5% during the 2nd 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 last quarter. Apollon Wealth Management LLC grew its stake in shares of Public Service Enterprise Group by 0.8% in the 2nd 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 in the last quarter. FourThought Financial Partners LLC increased its holdings in 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 worth $378,000 after buying an additional 127 shares during the last quarter. Finally, Summit Financial LLC increased its stake in shares of Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock worth $507,000 after purchasing an additional 133 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PEG shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Public Service Enterprise Group in a research note on Thursday. Barclays boosted their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. BTIG Research started coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target on the stock. Wells Fargo & Company started coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 price objective on the stock. Finally, Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.19.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the sale, the senior vice president owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Up 0.5%

NYSE PEG opened at $82.81 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The stock has a market cap of $41.34 billion, a PE ratio of 20.91, a PEG ratio of 2.46 and a beta of 0.55. The firm has a 50-day simple moving average of $82.16 and a 200 day simple moving average of $82.39. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS 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 firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. The company’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. On average, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

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.