Glenview Trust co Has $17.60 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Glenview Trust co increased its stake in Public Service Enterprise Group by 2.0%, purchasing an additional 4,249 shares to own a total of 213,893 shares valued at $17.6 million.
• Public Service Enterprise Group reported a quarterly EPS of $0.77, exceeding analysts' expectations of $0.70, and achieved a revenue of $2.81 billion for the quarter, a 15.8% year-over-year increase.
• The company announced a quarterly dividend of $0.63 per share, reflecting an annualized yield of 3.1%, which will be paid to shareholders of record on September 9th.

Glenview Trust co lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 213,893 shares of the utilities provider's stock after purchasing an additional 4,249 shares during the quarter. Glenview Trust co's holdings in Public Service Enterprise Group were worth $17,603,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. grew its holdings in Public Service Enterprise Group by 6.2% during 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 acquiring an additional 2,803 shares during the last quarter. Sowell Financial Services LLC acquired a new position in Public Service Enterprise Group during the 1st quarter valued at about $298,000. Exchange Traded Concepts LLC lifted its position in Public Service Enterprise Group by 12.7% during the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock valued at $327,000 after purchasing an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position 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. acquired a new position in Public Service Enterprise Group during the 1st quarter valued at about $329,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.6%

Shares of NYSE:PEG traded up $0.46 during midday trading on Monday, hitting $83.15. The stock had a trading volume of 655,220 shares, compared to its average volume of 2,848,633. 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 business's 50-day simple moving average is $84.45 and its 200-day simple moving average is $82.10. 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 $41.50 billion, a P/E ratio of 20.98, a PEG ratio of 2.88 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the previous year, the business posted $0.63 earnings per share. The company's revenue for the quarter 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. On average, sell-side 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 given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction on Tuesday, July 1st. The shares were 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 directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research reports. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. UBS Group increased 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. Barclays cut 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. BMO Capital Markets increased their target price 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. Finally, Morgan Stanley lowered their target price on 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. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $91.55.

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.