Woodward Diversified Capital LLC Boosts Holdings in Public Service Enterprise Group Incorporated $PEG

Woodward Diversified Capital LLC raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 80.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,768 shares of the utilities provider’s stock after buying an additional 2,580 shares during the period. Woodward Diversified Capital LLC’s holdings in Public Service Enterprise Group were worth $486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Robeco Institutional Asset Management B.V. boosted its holdings in Public Service Enterprise Group by 6.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock valued at $3,922,000 after purchasing an additional 2,803 shares during the period. Sowell Financial Services LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $298,000. Exchange Traded Concepts LLC boosted its stake in shares of Public Service Enterprise Group by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock valued at $327,000 after buying an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Public Service Enterprise Group by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock valued at $7,417,000 after buying an additional 3,601 shares during the period. Finally, Chemistry Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $579,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PEG. Morgan Stanley decreased 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 research note on Thursday, September 25th. Barclays decreased their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Finally, BMO Capital Markets lifted their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.85.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $82.51 on Thursday. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The stock has a market cap of $41.18 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.90 and a beta of 0.53. 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 firm has a fifty day moving average price of $84.14 and a 200 day moving average price of $82.24.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the business earned $0.63 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were paid a $0.63 dividend. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s payout ratio is currently 63.64%.

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.