Alamea Verwaltungs GmbH Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Key Points

• Alamea Verwaltungs GmbH acquired 7,530 shares of Public Service Enterprise Group, valued at approximately $620,000, marking it as its 26th largest holding.
• Public Service Enterprise Group's quarterly earnings reported $0.77 per share, exceeding analyst expectations, and its revenue reached $2.81 billion, reflecting a 15.8% year-over-year increase.
• The company declared a quarterly dividend of $0.63, resulting in an annualized dividend yield of 3.1%, with the payout ratio at 63.64%.

Alamea Verwaltungs GmbH bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,530 shares of the utilities provider's stock, valued at approximately $620,000. Public Service Enterprise Group makes up 0.5% of Alamea Verwaltungs GmbH's investment portfolio, making the stock its 26th largest holding.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Retirement Planning Co of New England Inc. acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $316,000. Decade Renewable Partners LP acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $6,252,000. Quarry LP boosted its position in shares of Public Service Enterprise Group by 366.5% during the 1st quarter. Quarry LP now owns 6,662 shares of the utilities provider's stock worth $548,000 after acquiring an additional 5,234 shares in the last quarter. Calton & Associates Inc. boosted its position in Public Service Enterprise Group by 19.1% in the first quarter. Calton & Associates Inc. now owns 7,691 shares of the utilities provider's stock valued at $633,000 after buying an additional 1,232 shares in the last quarter. Finally, Twin Tree Management LP boosted its position in Public Service Enterprise Group by 429.5% in the first quarter. Twin Tree Management LP now owns 119,251 shares of the utilities provider's stock valued at $9,814,000 after buying an additional 96,730 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Price Performance

PEG stock traded down $0.46 during midday trading on Wednesday, reaching $81.35. The company had a trading volume of 1,589,082 shares, compared to its average volume of 2,650,084. 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 has a market capitalization of $40.60 billion, a P/E ratio of 20.54, a P/E/G ratio of 2.86 and a beta of 0.50. The firm has a 50-day moving average price of $84.66 and a 200-day moving average price of $82.24.

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 (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 company had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the prior year, the company earned $0.63 EPS. 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. On average, research analysts anticipate 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group raised their target price on shares of 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. Barclays lowered their target price on shares of 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. 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. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Finally, Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

About Public Service Enterprise Group

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.