Applied Finance Capital Management LLC Grows Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Applied Finance Capital Management LLC increased its stake in Public Service Enterprise Group by 5.5%, owning 151,319 shares worth approximately $12.74 million.
• Public Service Enterprise Group reported a quarterly earnings per share of $0.77, exceeding analysts' expectations of $0.70, with a revenue of $2.81 billion which is a 15.8% increase year-over-year.
• The company recently declared a quarterly dividend of $0.63 per share, representing a dividend yield of 3.0% and a payout ratio of 63.64%.

Applied Finance Capital Management LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,319 shares of the utilities provider's stock after purchasing an additional 7,939 shares during the quarter. Applied Finance Capital Management LLC's holdings in Public Service Enterprise Group were worth $12,738,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PEG. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at about $27,000. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $32,000. Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $33,000. Marshall & Sullivan Inc. WA purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $33,000. Finally, Costello Asset Management INC grew its stake in Public Service Enterprise Group by 290.6% in the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider's stock worth $45,000 after purchasing an additional 401 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $84.33 on Friday. The company has a market capitalization of $42.09 billion, a PE ratio of 21.30, a P/E/G ratio of 2.60 and a beta of 0.53. The company has a 50-day simple moving average of $82.80 and a two-hundred day simple moving average of $82.22. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year 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 released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. The business had revenue of $2.81 billion for 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 company's revenue was up 15.8% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group's dividend payout ratio is presently 63.64%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Evercore ISI began coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an "in-line" rating and a $83.00 price objective for the company. BMO Capital Markets increased their target price 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, Barclays reduced their price target 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and an average price target of $91.14.

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.

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.