Dimensional Fund Advisors LP Sells 9,671 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Dimensional Fund Advisors LP reduced its stake in Public Service Enterprise Group (PEG) by selling 9,671 shares, leaving them with 1,786,372 shares valued at approximately $147 million.
• The company reported a quarterly earnings per share (EPS) of $0.77, exceeding analysts' expectations of $0.70, along with a revenue of $2.81 billion, which was higher than the consensus estimate of $2.49 billion.
• Public Service Enterprise Group announced a quarterly dividend of $0.63 per share, resulting in an annualized dividend yield of 3.0% and a payout ratio of 63.64%.

Dimensional Fund Advisors LP trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,786,372 shares of the utilities provider's stock after selling 9,671 shares during the period. Dimensional Fund Advisors LP owned 0.36% of Public Service Enterprise Group worth $147,008,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its stake in Public Service Enterprise Group by 6.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after buying an additional 2,803 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Public Service Enterprise Group in the first quarter worth about $298,000. Exchange Traded Concepts LLC grew its position in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after purchasing an additional 447 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock valued at $7,417,000 after purchasing an additional 3,601 shares during the period. Finally, Vontobel Holding Ltd. bought a new stake in Public Service Enterprise Group during the 1st quarter valued at approximately $329,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $85.0730 on Thursday. The firm has a fifty day simple moving average of $84.50 and a two-hundred day simple moving average of $82.32. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $42.46 billion, a P/E ratio of 21.48, a PEG ratio of 2.94 and a beta of 0.45.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. The firm had revenue of $2.81 billion during 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 firm's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts expect 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 announced 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 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 payout ratio is 63.64%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction 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 sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on PEG. Barclays dropped their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. BMO Capital Markets lifted 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 report on Wednesday, August 6th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Finally, Evercore ISI cut their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Six 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 has a consensus rating of "Moderate Buy" and an average target price of $90.95.

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.

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.