3,201 Shares in Public Service Enterprise Group Incorporated $PEG Bought by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC purchased 3,201 shares of Public Service Enterprise Group for approximately $269,000 in the 2nd quarter, contributing to the 73.34% institutional ownership of the stock.
• The company reported earnings of $0.77 per share for the most recent quarter, beating expectations and showing a 15.8% year-over-year revenue growth to $2.81 billion.
• Public Service Enterprise Group announced a quarterly dividend of $0.63 per share with a 3.1% yield, reflecting a dividend payout ratio of 63.64%.

GC Wealth Management RIA LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,201 shares of the utilities provider's stock, valued at approximately $269,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth $32,000. Marshall & Sullivan Inc. WA acquired a new position in Public Service Enterprise Group during the 2nd quarter worth $33,000. Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth $33,000. Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group during the 1st quarter worth $50,000. Finally, Sound Income Strategies LLC boosted its position in shares of Public Service Enterprise Group by 105.9% during the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock worth $58,000 after acquiring an additional 361 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 1.1%

Shares of NYSE PEG opened at $82.51 on Thursday. 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 quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The business has a 50-day moving average price of $84.14 and a 200 day moving average price of $82.24.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the firm earned $0.63 EPS. The business's 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. Equities research analysts forecast 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. Shareholders of record on Tuesday, September 9th were given 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 of this dividend was Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 63.64%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PEG. BMO Capital Markets upped their price objective on 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. Barclays lowered their price objective on 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 upped their price objective on 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 lowered their price objective on 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. Finally, Wall Street Zen raised 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 four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.85.

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.

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