Fox Run Management L.L.C. Boosts Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Fox Run Management L.L.C. increased its holdings in Public Service Enterprise Group by 458.1% during the first quarter, owning 21,665 shares valued at approximately $1.78 million.
• Public Service Enterprise Group reported $0.77 earnings per share for the last quarter, exceeding analysts' expectations of $0.70, with revenue increasing by 15.8% year-over-year.
• The company declared a quarterly dividend of $0.63 per share, with a dividend yield of 2.9%, set to be paid on September 30th.

Fox Run Management L.L.C. grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 458.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 21,665 shares of the utilities provider's stock after buying an additional 17,783 shares during the period. Fox Run Management L.L.C.'s holdings in Public Service Enterprise Group were worth $1,783,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Townsquare Capital LLC raised its holdings in shares of Public Service Enterprise Group by 91.7% during the fourth quarter. Townsquare Capital LLC now owns 9,586 shares of the utilities provider's stock valued at $810,000 after purchasing an additional 4,585 shares during the last quarter. Mariner LLC raised its holdings in shares of Public Service Enterprise Group by 3.7% during the fourth quarter. Mariner LLC now owns 184,678 shares of the utilities provider's stock valued at $15,603,000 after purchasing an additional 6,590 shares during the last quarter. CreativeOne Wealth LLC raised its holdings in shares of Public Service Enterprise Group by 4.6% during the fourth quarter. CreativeOne Wealth LLC now owns 4,693 shares of the utilities provider's stock valued at $397,000 after purchasing an additional 208 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Public Service Enterprise Group by 5.4% during the fourth quarter. Belpointe Asset Management LLC now owns 3,416 shares of the utilities provider's stock valued at $276,000 after purchasing an additional 176 shares during the last quarter. Finally, Rossby Financial LCC purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $209,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Evercore ISI decreased their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Guggenheim reduced their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Finally, BMO Capital Markets upped their target price 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. 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $90.95.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction 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 owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $0.43 during mid-day trading on Tuesday, reaching $84.55. 651,083 shares of the company's stock traded hands, compared to its average volume of 2,866,434. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The company has a market cap of $42.20 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 2.97 and a beta of 0.45. 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 50 day moving average of $84.32 and a two-hundred day moving average of $82.28.

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

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. Public Service Enterprise Group's dividend payout ratio is currently 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.