AG2R LA Mondiale Gestion D Actifs Takes $1.76 Million Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• AG2R LA Mondiale Gestion D Actifs invested approximately $1.76 million in Public Service Enterprise Group, acquiring 21,749 shares during the first quarter.
• Public Service Enterprise Group reported an EPS of $0.77 for the last quarter, exceeding analysts' expectations, with revenue of $2.81 billion, a 15.8% increase year-over-year.
• The company is set to pay a quarterly dividend of $0.63 on September 30th, which reflects an annual yield of 3.0%.

AG2R LA Mondiale Gestion D Actifs purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,749 shares of the utilities provider's stock, valued at approximately $1,762,000.

Several other hedge funds also recently made changes to their positions in PEG. Centre Asset Management LLC raised its stake in shares of Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after purchasing an additional 121 shares during the last quarter. FourThought Financial Partners LLC boosted its stake in shares of Public Service Enterprise Group by 2.8% in the first 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 during the period. Oregon Public Employees Retirement Fund boosted its stake 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 last quarter. Summit Financial LLC raised its position in Public Service Enterprise Group by 2.2% during the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock valued at $507,000 after purchasing an additional 133 shares during the period. Finally, Apella Capital LLC raised its position in Public Service Enterprise Group by 2.7% during the first quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock valued at $443,000 after purchasing an additional 144 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded up $0.33 during midday trading on Monday, reaching $83.02. 2,237,063 shares of the company's stock were exchanged, compared to its average volume of 2,547,135. The company's 50 day simple moving average is $84.47 and its two-hundred day simple moving average is $82.11. The firm has a market capitalization of $41.43 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 2.88 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. 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 (NYSE:PEG - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 earnings per share. 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 earnings per share for the current fiscal 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 paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 63.64%.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Barclays cut 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 note on Thursday, July 10th. UBS Group upped their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. 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. Finally, Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.55.

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.