National Wealth Management Group LLC Invests $366,000 in Public Service Enterprise Group Incorporated $PEG

Key Points

• National Wealth Management Group LLC purchased 4,443 shares of Public Service Enterprise Group, valued at approximately $366,000, in the first quarter of the year.
• Public Service Enterprise Group reported $0.77 earnings per share for the last quarter, exceeding analysts' estimates and marking a year-over-year revenue increase of 15.8%.
• The company announced a quarterly dividend of $0.63 per share, with an annualized yield of 3.1%, set to be paid on September 30th.

National Wealth Management Group LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,443 shares of the utilities provider's stock, valued at approximately $366,000.

A number of other large investors have also recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in shares of Public Service Enterprise Group by 15.0% in the first quarter. NewEdge Advisors LLC now owns 55,189 shares of the utilities provider's stock worth $4,542,000 after acquiring an additional 7,193 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Public Service Enterprise Group by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,290 shares of the utilities provider's stock valued at $6,443,000 after buying an additional 14,940 shares during the period. Integrated Wealth Concepts LLC grew its position in Public Service Enterprise Group by 5.6% during the first quarter. Integrated Wealth Concepts LLC now owns 14,034 shares of the utilities provider's stock valued at $1,155,000 after buying an additional 744 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Public Service Enterprise Group by 12.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 483,717 shares of the utilities provider's stock valued at $39,810,000 after buying an additional 53,553 shares during the period. Finally, Clark Capital Management Group Inc. bought a new stake in Public Service Enterprise Group during the first quarter valued at approximately $228,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Up 1.8%

PEG stock traded up $1.42 during mid-day trading on Wednesday, reaching $81.41. 1,738,458 shares of the stock traded hands, compared to its average volume of 2,855,995. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The stock has a market capitalization of $40.63 billion, a PE ratio of 20.56, a PEG ratio of 2.79 and a beta of 0.50. The business has a 50-day moving average price of $84.41 and a two-hundred day moving average price of $82.11.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. 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 expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group's dividend payout ratio is presently 63.64%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEG. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday. Barclays lowered their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Finally, UBS Group lifted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average target price of $90.95.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Company 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.