Energy Income Partners LLC Acquires 20,919 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Energy Income Partners LLC increased its stake in Public Service Enterprise Group (PEG) by 2.5% during Q1, holding 851,633 shares valued at approximately $70 million, which represents 1.3% of its total portfolio.
• The company recently beat earnings expectations with $0.77 per share in quarterly results, exceeding the consensus estimate of $0.70, and reported a revenue increase of 15.8% year-over-year.
• Public Service Enterprise Group announced a $0.63 quarterly dividend, reflecting an annualized dividend of $2.52 and a yield of 3.1%, with the dividend payout ratio set at 63.64%.

Energy Income Partners LLC increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 851,633 shares of the utilities provider's stock after acquiring an additional 20,919 shares during the quarter. Public Service Enterprise Group comprises approximately 1.3% of Energy Income Partners LLC's holdings, making the stock its 28th largest holding. Energy Income Partners LLC owned 0.17% of Public Service Enterprise Group worth $70,089,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Centre Asset Management LLC boosted its stake in Public Service Enterprise Group by 3.2% during the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after buying an additional 121 shares in the last quarter. FourThought Financial Partners LLC boosted its stake in Public Service Enterprise Group by 2.8% during the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after buying an additional 127 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Public Service Enterprise Group by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock valued at $3,523,000 after purchasing an additional 130 shares in the last quarter. Summit Financial LLC boosted its stake in shares of Public Service Enterprise Group by 2.2% in the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock valued at $507,000 after purchasing an additional 133 shares in the last quarter. Finally, Apella Capital LLC boosted its stake in shares of Public Service Enterprise Group by 2.7% in the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock valued at $443,000 after purchasing an additional 144 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

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 that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.4%

Public Service Enterprise Group stock traded up $0.37 during trading hours on Thursday, reaching $81.72. 2,432,892 shares of the company's stock traded hands, compared to its average volume of 2,861,612. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The firm has a market capitalization of $40.78 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.86 and a beta of 0.50. The firm's 50 day moving average is $84.63 and its 200-day moving average is $82.24.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 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 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, 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 63.64%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Barclays reduced their target price 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 note on Thursday, July 10th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. 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. Finally, BMO Capital Markets lifted their price target on 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. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.