Mezzasalma Advisors LLC Buys New Holdings in Public Service Enterprise Group Incorporated $PEG

Mezzasalma Advisors LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, HoldingsChannel.com reports. The firm purchased 12,452 shares of the utilities provider’s stock, valued at approximately $1,039,000.

A number of other large investors also recently modified their holdings of PEG. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in Public Service Enterprise Group during the second quarter worth approximately $27,000. GoalVest Advisory LLC increased its position in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares in the last quarter. Finally, Marshall & Sullivan Inc. WA purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $33,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 0.4%

Shares of PEG opened at $80.40 on Friday. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25. The stock has a 50-day moving average price of $81.45 and a 200 day moving average price of $82.71. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The company has a market capitalization of $40.13 billion, a P/E ratio of 19.33, a P/E/G ratio of 2.45 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the company posted $0.90 EPS. Public Service Enterprise Group’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. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PEG shares. JPMorgan Chase & Co. decreased their price target on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Wells Fargo & Company began coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 target price for the company. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. BTIG Research assumed coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target for the company. Finally, Barclays lifted their price objective on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.96.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Company 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.