BROOKFIELD Corp ON Decreases Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• BROOKFIELD Corp ON has significantly reduced its stake in Public Service Enterprise Group, lowering its holdings by 81.3% to 80,931 shares after selling 351,339 shares during the first quarter.
• Several analysts have mixed opinions on the stock, as Morgan Stanley reduced their target price from $101 to $100, while UBS Group raised theirs from $97 to $103, maintaining a "buy" rating.
• Public Service Enterprise Group announced a quarterly dividend of $0.63 per share, representing a 3.1% yield, payable to stockholders of record on September 9th.

BROOKFIELD Corp ON reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 81.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,931 shares of the utilities provider's stock after selling 351,339 shares during the period. BROOKFIELD Corp ON's holdings in Public Service Enterprise Group were worth $6,661,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PEG. REAP Financial Group LLC boosted its holdings in shares of Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after acquiring an additional 162 shares during the period. Headlands Technologies LLC bought a new position in shares of Public Service Enterprise Group in the first quarter worth $32,000. Wealth Preservation Advisors LLC bought a new position in shares of Public Service Enterprise Group in the first quarter worth $33,000. Zions Bancorporation National Association UT bought a new stake in Public Service Enterprise Group during the first quarter valued at $50,000. Finally, Sound Income Strategies LLC grew its position in Public Service Enterprise Group by 105.9% during the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock worth $58,000 after buying an additional 361 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PEG shares. Morgan Stanley decreased their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. BMO Capital Markets upped their target price 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. Barclays decreased 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. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, UBS Group upped their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and an average price target of $91.55.

Public Service Enterprise Group Price Performance

PEG stock traded down $0.05 during mid-day trading on Wednesday, hitting $81.18. 630,427 shares of the stock were exchanged, compared to its average volume of 2,839,083. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The business has a fifty day moving average price of $84.46 and a 200 day moving average price of $82.10. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The stock has a market capitalization of $40.51 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 2.89 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company's revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 annualized dividend and a yield of 3.1%. Public Service Enterprise Group's payout ratio is 63.64%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

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.