Caxton Associates LLP Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Key Points

• Caxton Associates LLP has acquired a new stake in Public Service Enterprise Group Incorporated, purchasing 4,709 shares valued at approximately $388,000.
• The company recently reported strong quarterly earnings, with an earnings per share of $0.77, exceeding estimates, and a revenue of $2.81 billion, which is up 15.8% year-over-year.
• Public Service Enterprise Group announced a quarterly dividend of $0.63 per share, with an upcoming payment date on September 30th and a dividend yield of 3.0%.

Caxton Associates LLP purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,709 shares of the utilities provider's stock, valued at approximately $388,000.

A number of other institutional investors also recently added to or reduced their stakes in PEG. REAP Financial Group LLC increased its position in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth approximately $32,000. Wealth Preservation Advisors LLC bought a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $50,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Public Service Enterprise Group by 105.9% in the 1st 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 owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.4%

Shares of NYSE:PEG traded up $0.33 during midday trading on Monday, hitting $83.02. The company had a trading volume of 2,237,063 shares, compared to its average volume of 2,547,135. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. 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 fifty day simple moving average of $84.47 and a 200 day simple moving average of $82.11. The stock has a market cap of $41.43 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.88 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio is presently 63.64%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PEG shares. UBS Group lifted their price objective on 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. Morgan Stanley cut their price target on 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. Barclays decreased their price objective on shares of 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. BMO Capital Markets boosted 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 research note on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.55.

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.