Integrity Alliance LLC. Takes Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Integrity Alliance LLC acquired 9,414 shares of Public Service Enterprise Group, valued at approximately $775,000, in the first quarter.
• The company reported earnings of $0.77 per share for the recent quarter, surpassing analysts' expectations of $0.70.
• Public Service Enterprise Group announced a quarterly dividend of $0.63, with a dividend yield of 3.1%, set to be paid on September 30th.

Integrity Alliance LLC. bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 9,414 shares of the utilities provider's stock, valued at approximately $775,000.

Several other hedge funds also recently made changes to their positions in the company. Centre Asset Management LLC grew its position in shares of Public Service Enterprise Group by 3.2% in the 1st quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after acquiring an additional 121 shares in the last quarter. FourThought Financial Partners LLC grew its position in shares of Public Service Enterprise Group by 2.8% in the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after acquiring an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund grew its position in shares of Public Service Enterprise Group by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after acquiring an additional 130 shares in the last quarter. Summit Financial LLC grew its position in shares of Public Service Enterprise Group by 2.2% in the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock worth $507,000 after acquiring an additional 133 shares in the last quarter. Finally, Apella Capital LLC grew its position in shares of Public Service Enterprise Group by 2.7% in the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after acquiring an additional 144 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

PEG stock traded up $0.33 during trading on Monday, reaching $83.02. 2,237,063 shares of the company's stock were exchanged, compared to its average volume of 2,858,083. 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 1-year low of $74.67 and a 1-year high of $95.22. The company's fifty day moving average price is $84.45 and its 200-day moving average price is $82.10. The firm has a market cap of $41.43 billion, a PE ratio of 20.96, a P/E/G ratio of 2.88 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company's revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed 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 annualized dividend and a dividend yield of 3.0%. Public Service Enterprise Group's dividend payout ratio is 63.64%.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on 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 Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. UBS Group boosted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 25th. BMO Capital Markets boosted their price objective on 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. Finally, Barclays reduced 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. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $91.55.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

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.