Aberdeen Group plc Acquires 57,385 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Aberdeen Group plc increased its stake in Public Service Enterprise Group Incorporated (PEG) by 7.2%, now owning 851,022 shares valued at about $71.6 million, as reported in its latest SEC filing.
• Public Service Enterprise Group reported $0.77 EPS for the quarter, exceeding analysts' expectations of $0.70, along with a revenue of $2.81 billion, up 15.8% year-over-year.
• The company declared a quarterly dividend of $0.63 per share, translating to a yield of 3.1% and a payout ratio of 63.64%.

Aberdeen Group plc lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 851,022 shares of the utilities provider's stock after purchasing an additional 57,385 shares during the quarter. Aberdeen Group plc owned about 0.17% of Public Service Enterprise Group worth $71,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEG. PDS Planning Inc increased its position in Public Service Enterprise Group by 3.9% during the 2nd quarter. PDS Planning Inc now owns 4,980 shares of the utilities provider's stock valued at $419,000 after buying an additional 185 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Public Service Enterprise Group by 2.8% during the second quarter. Blue Trust Inc. now owns 11,461 shares of the utilities provider's stock valued at $965,000 after acquiring an additional 313 shares in the last quarter. Costello Asset Management INC raised its position in shares of Public Service Enterprise Group by 290.6% in the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider's stock worth $45,000 after purchasing an additional 401 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Public Service Enterprise Group by 7.1% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 11,464 shares of the utilities provider's stock worth $966,000 after purchasing an additional 763 shares in the last quarter. Finally, Argyle Capital Management LLC grew its position in Public Service Enterprise Group by 18.8% during the 2nd quarter. Argyle Capital Management LLC now owns 5,375 shares of the utilities provider's stock valued at $452,000 after purchasing an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $80.57 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $40.21 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The firm's 50 day moving average price is $83.17 and its 200-day moving average price is $82.18. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS 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 during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm'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 expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group's payout ratio is currently 63.64%.

Analysts Set New Price Targets

Several brokerages have issued reports on PEG. UBS Group lifted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Barclays decreased their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Evercore ISI began coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an "in-line" rating and a $83.00 target price on the stock. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.95.

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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