21,634 Shares in Public Service Enterprise Group Incorporated $PEG Bought by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,634 shares of the utilities provider’s stock, valued at approximately $1,806,000. Public Service Enterprise Group accounts for about 1.2% of Stoneridge Investment Partners LLC’s holdings, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at 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 acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $27,000. Cedar Mountain Advisors LLC bought a new stake in Public Service Enterprise Group in the third quarter valued at approximately $27,000. Finally, GoalVest Advisory LLC raised its holdings in 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 purchasing an additional 225 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEG. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $85.00 price target (down previously from $88.00) on shares of Public Service Enterprise Group in a report on Thursday. TD Cowen lifted their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. BTIG Research initiated coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target on the stock. Finally, Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $78.28 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The firm has a market cap of $39.07 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 2.54 and a beta of 0.60. The stock’s 50-day moving average is $80.21 and its 200-day moving average is $82.31. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.Public Service Enterprise Group’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the company earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.