FORA Capital LLC purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 63,108 shares of the utilities provider's stock, valued at approximately $5,194,000.
A number of other large investors also recently added to or reduced their stakes in PEG. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $25,000. REAP Financial Group LLC increased its stake in Public Service Enterprise Group by 105.9% in the 4th 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 last quarter. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group in the 1st quarter worth approximately $32,000. Optiver Holding B.V. bought a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $50,000. Finally, Zions Bancorporation National Association UT bought a new stake in Public Service Enterprise Group in the 1st quarter worth approximately $50,000. 73.34% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Public Service Enterprise Group
In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's 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 completion of the transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on PEG. BMO Capital Markets lifted their price objective on 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. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. UBS Group lifted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Finally, Barclays cut their target price 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. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.95.
Check Out Our Latest Analysis on Public Service Enterprise Group
Public Service Enterprise Group Trading Down 0.3%
PEG traded down $0.23 during trading hours on Friday, reaching $82.36. 2,254,583 shares of the company's stock traded hands, compared to its average volume of 2,784,153. The firm has a 50-day moving average price of $84.71 and a 200 day moving average price of $82.27. 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 firm has a market capitalization of $41.10 billion, a PE ratio of 20.80, a PEG ratio of 2.86 and a beta of 0.45.
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 analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the business earned $0.63 EPS. Public Service Enterprise Group's revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group's payout ratio is presently 63.64%.
About Public Service Enterprise Group
(
Free Report)
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.
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