Aberdeen Group plc Cuts Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Aberdeen Group plc has reduced its stake in Public Service Enterprise Group by 56% during the first quarter, selling 1,009,409 shares, and now owns approximately 0.16% of the company worth around $64.7 million.
• Public Service Enterprise Group recently reported a 15.8% year-over-year revenue increase for the quarter, totaling $2.81 billion, and earnings per share of $0.77, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.63 per share, to be paid on September 30th, reflecting an annualized yield of 3.0% and a payout ratio of 63.64%.

Aberdeen Group plc lessened its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 56.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 793,637 shares of the utilities provider's stock after selling 1,009,409 shares during the period. Aberdeen Group plc owned 0.16% of Public Service Enterprise Group worth $64,725,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Centre Asset Management LLC raised its holdings 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 valued at $324,000 after purchasing an additional 121 shares in the last quarter. FourThought Financial Partners LLC boosted its stake in shares of Public Service Enterprise Group by 2.8% during the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock valued at $378,000 after purchasing an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Public Service Enterprise Group by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock valued at $3,523,000 after buying an additional 130 shares during the period. Apella Capital LLC raised its stake in Public Service Enterprise Group by 2.7% in the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after buying an additional 144 shares in the last quarter. Finally, Net Worth Advisory Group raised its stake in Public Service Enterprise Group by 5.6% in the first quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock worth $231,000 after buying an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on PEG shares. 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 note on Wednesday, August 6th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. Evercore ISI cut their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Guggenheim reduced their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Barclays dropped their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.95.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

PEG traded down $1.5610 during trading on Thursday, reaching $83.5990. 659,667 shares of the company's stock were exchanged, compared to its average volume of 2,857,802. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. 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 simple moving average is $84.50 and its 200-day simple moving average is $82.32. The stock has a market capitalization of $41.72 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.94 and a beta of 0.45.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 63.64%.

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.