Cbre Investment Management Listed Real Assets LLC Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Key Points

• Cbre Investment Management Listed Real Assets LLC acquired 830,102 shares of Public Service Enterprise Group, valued at approximately $68.3 million, marking a new stake in the company.
• The company recently reported better-than-expected earnings, with an EPS of $0.77 for the last quarter, surpassing analyst expectations by $0.07.
• Public Service Enterprise Group declared a quarterly dividend of $0.63, representing an annualized yield of 3.0%, set to be paid on September 30th.

Cbre Investment Management Listed Real Assets LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 830,102 shares of the utilities provider's stock, valued at approximately $68,317,000. Cbre Investment Management Listed Real Assets LLC owned 0.17% of Public Service Enterprise Group at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEG. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Public Service Enterprise Group by 2.3% in the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock valued at $600,317,000 after acquiring an additional 162,261 shares in the last quarter. Northern Trust Corp increased its stake in shares of Public Service Enterprise Group by 6.1% in the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after acquiring an additional 335,135 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of Public Service Enterprise Group by 5.2% in the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock valued at $385,439,000 after acquiring an additional 230,636 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Public Service Enterprise Group by 15.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider's stock valued at $337,709,000 after purchasing an additional 542,671 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $0.57 during mid-day trading on Wednesday, hitting $82.90. 2,546,869 shares of the stock were exchanged, compared to its average volume of 2,889,174. The company has a market cap of $41.38 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.87 and a beta of 0.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a 50-day moving average of $84.67 and a two-hundred day moving average of $82.29. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $0.63 dividend. 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 is currently 63.64%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PEG. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Guggenheim lowered their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a research note 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 on the stock in a research report on Thursday, May 1st. Barclays decreased 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 research report on Thursday, July 10th. Finally, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average 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.