Public Service Enterprise Group Incorporated $PEG Shares Purchased by Credit Agricole S A

Key Points

• Credit Agricole S A increased its stake in Public Service Enterprise Group by 7.0% in Q1, holding a total of 162,674 shares valued at approximately $13.39 million.
• Several institutional investors, including Centre Asset Management and Apella Capital, have also raised their positions in the company, which is now largely owned (73.34%) by hedge funds and other institutional investors.
• The company reported a better-than-expected earnings per share of $0.77 for Q2, exceeding the consensus estimate by $0.07, with revenue advancing 15.8% year-over-year to $2.81 billion.

Credit Agricole S A lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 7.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 162,674 shares of the utilities provider's stock after acquiring an additional 10,642 shares during the quarter. Credit Agricole S A's holdings in Public Service Enterprise Group were worth $13,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $25,000. REAP Financial Group LLC increased its stake 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 acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth $32,000. Finally, Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $50,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PEG. UBS Group raised their price target on shares of 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. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Barclays dropped their price target on shares of 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. Evercore ISI dropped their price target on shares of 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. Finally, BMO Capital Markets raised their price target on shares of 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. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.95.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction dated 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 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 legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

PEG traded up $0.3440 during midday trading on Friday, hitting $83.6340. 3,117,018 shares of the company traded hands, compared to its average volume of 2,499,858. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $41.74 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 2.91 and a beta of 0.45. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The business has a 50 day simple moving average of $84.59 and a two-hundred day simple moving average of $82.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company's revenue was up 15.8% compared to the same quarter last year. During the same period last 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, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. 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 (DPR) is presently 63.64%.

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.