Klein Pavlis & Peasley Financial Inc. Buys Shares of 13,089 Public Service Enterprise Group Incorporated $PEG

Klein Pavlis & Peasley Financial Inc. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 13,089 shares of the utilities provider’s stock, valued at approximately $1,092,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEG. Vanguard Group Inc. increased its stake in Public Service Enterprise Group by 1.9% in the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after acquiring an additional 1,199,371 shares during the last quarter. State Street Corp boosted its holdings in shares of Public Service Enterprise Group by 0.8% in the 2nd quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock valued at $2,300,701,000 after purchasing an additional 206,843 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Public Service Enterprise Group by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after purchasing an additional 110,087 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after buying an additional 715,051 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s 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 directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $79.39 on Friday. The stock’s 50-day moving average is $80.60 and its 200-day moving average is $82.40. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The stock has a market cap of $39.63 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.24 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period last year, the company earned $0.90 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.2%. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PEG. Wells Fargo & Company began 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. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. BTIG Research assumed 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. UBS Group lowered their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $91.35.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.