Tectonic Advisors LLC Has $731,000 Holdings in Public Service Enterprise Group Incorporated $PEG

Tectonic Advisors LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,684 shares of the utilities provider’s stock after purchasing an additional 584 shares during the period. Tectonic Advisors LLC’s holdings in Public Service Enterprise Group were worth $731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Maryland State Retirement & Pension System lifted its stake in shares of Public Service Enterprise Group by 4.1% in the 2nd quarter. Maryland State Retirement & Pension System now owns 24,271 shares of the utilities provider’s stock valued at $2,043,000 after purchasing an additional 960 shares during the last quarter. Massachusetts Wealth Management lifted its stake in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after purchasing an additional 125 shares during the last quarter. REAP Financial Group LLC lifted its stake in shares of Public Service Enterprise Group by 66.8% in the 2nd quarter. REAP Financial Group LLC now owns 849 shares of the utilities provider’s stock valued at $71,000 after purchasing an additional 340 shares during the last quarter. Sax Wealth Advisors LLC lifted its position in Public Service Enterprise Group by 7.8% during the 2nd quarter. Sax Wealth Advisors LLC now owns 6,722 shares of the utilities provider’s stock worth $566,000 after acquiring an additional 485 shares during the last quarter. Finally, Shell Asset Management Co. lifted its position in Public Service Enterprise Group by 5.5% during the 2nd quarter. Shell Asset Management Co. now owns 32,064 shares of the utilities provider’s stock worth $2,699,000 after acquiring an additional 1,684 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of a number of research analyst reports. UBS Group boosted their target price 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. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday. They set an “in-line” rating and a $83.00 target price for the company. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.95.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $81.42 on Friday. The firm’s 50-day moving average is $83.34 and its 200-day moving average is $82.18. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market cap of $40.64 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.84 and a beta of 0.53.

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

Public Service Enterprise Group Dividend Announcement

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

Public Service Enterprise Group 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.