Public Service Enterprise Group Incorporated $PEG Stock Position Raised by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Public Service Enterprise Group by 321.2%, owning 77,725 shares valued at approximately $6.4 million as of the latest SEC filing.
• Public Service Enterprise Group reported $0.77 earnings per share for the last quarter, surpassing analyst expectations of $0.70 and showing a 15.8% year-over-year revenue growth.
• The company announced a quarterly dividend of $0.63, reflecting an annualized yield of 3.0%, with the payout scheduled for September 30th.

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 321.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,725 shares of the utilities provider's stock after purchasing an additional 59,272 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Public Service Enterprise Group were worth $6,397,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Centre Asset Management LLC grew its holdings in Public Service Enterprise Group by 3.2% during the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after acquiring an additional 121 shares during the period. FourThought Financial Partners LLC grew its holdings in 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 worth $378,000 after acquiring an additional 127 shares during the period. Oregon Public Employees Retirement Fund boosted its position in shares of Public Service Enterprise Group by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock valued at $3,523,000 after purchasing an additional 130 shares during the period. Apella Capital LLC boosted its position in shares of Public Service Enterprise Group by 2.7% in the 1st 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. Finally, Net Worth Advisory Group boosted its position in shares of Public Service Enterprise Group by 5.6% in the 1st quarter. Net Worth Advisory Group now owns 2,809 shares of the utilities provider's stock valued at $231,000 after purchasing an additional 148 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was 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 of the company's stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 0.4%

Shares of PEG traded up $0.3440 during midday trading on Friday, reaching $83.6340. 3,117,018 shares of the stock were exchanged, compared to its average volume of 2,499,858. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The firm has a 50 day simple moving average of $84.59 and a 200-day simple moving average of $82.32. 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 company has a market cap of $41.74 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.90 and a beta of 0.45.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results 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. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business earned $0.63 EPS. The business's quarterly 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. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company 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 dividend of $0.63 per share. The ex-dividend date of this dividend is 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 (DPR) is 63.64%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PEG shares. Barclays decreased their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Guggenheim decreased their price target on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Evercore ISI decreased their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. BMO Capital Markets increased their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Finally, UBS Group raised their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $90.95.

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.