Callan Family Office LLC Purchases 8,005 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Callan Family Office LLC increased its holdings in Public Service Enterprise Group (PEG) by 119.2%, acquiring an additional 8,005 shares, bringing its total ownership to 14,723 shares valued at approximately $1.24 million.
• The company reported $0.77 earnings per share for the last quarter, exceeding analysts' expectations of $0.70, with a year-over-year revenue increase of 15.8%.
• Public Service Enterprise Group announced a quarterly dividend of $0.63, representing an annualized yield of 3.1% and a payout ratio of 63.64%.

Callan Family Office LLC lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 119.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,723 shares of the utilities provider's stock after purchasing an additional 8,005 shares during the quarter. Callan Family Office LLC's holdings in Public Service Enterprise Group were worth $1,239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group in the first quarter worth $32,000. Marshall & Sullivan Inc. WA bought a new stake in Public Service Enterprise Group in the second quarter worth $33,000. Wealth Preservation Advisors LLC bought a new stake in 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 in the first quarter worth $50,000. Finally, Sound Income Strategies LLC boosted its holdings in Public Service Enterprise Group by 105.9% in the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock worth $58,000 after acquiring an additional 361 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Trading Down 1.0%

Shares of NYSE:PEG opened at $80.57 on Monday. The company has a market cap of $40.21 billion, a P/E ratio of 20.35, a PEG ratio of 2.80 and a beta of 0.53. 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 stock's fifty day moving average price is $83.17 and its 200-day moving average price is $82.19.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its 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. 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 for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. Public Service Enterprise Group'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. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley dropped their target price 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 report on Saturday, September 6th. BMO Capital Markets boosted their target price on 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. Weiss Ratings reissued a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Finally, Barclays lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.

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