Hamlin Capital Management LLC Increases Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Hamlin Capital Management LLC increased its stake in Public Service Enterprise Group (PEG) by 0.7%, owning 2.48 million shares, which makes up about 4.8% of its portfolio.
• Recent analyst reports have given PEG an average rating of Moderate Buy with a target price of $91.14, reflecting a mix of ratings ranging from Strong Buy to Hold.
• Public Service Enterprise Group declared a quarterly dividend of $0.63 per share, demonstrating a dividend yield of 3.0% and a payout ratio of 63.64%.

Hamlin Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 0.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,476,266 shares of the utilities provider's stock after purchasing an additional 16,951 shares during the period. Public Service Enterprise Group accounts for about 4.8% of Hamlin Capital Management LLC's portfolio, making the stock its 5th largest position. Hamlin Capital Management LLC owned 0.50% of Public Service Enterprise Group worth $208,452,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at $27,000. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter valued at $32,000. Wealth Preservation Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter valued at $33,000. Marshall & Sullivan Inc. WA acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at $33,000. Finally, Costello Asset Management INC lifted its stake in shares of Public Service Enterprise Group by 290.6% during the second quarter. Costello Asset Management INC now owns 539 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 401 shares during the period. Institutional investors own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PEG. Evercore ISI began coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an "in-line" rating and a $83.00 price target on the stock. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Morgan Stanley cut their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. TD Cowen began coverage on Public Service Enterprise Group in a research note on Thursday. They set a "buy" rating and a $93.00 price target on the stock. Finally, UBS Group upped their price target on 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average target price of $91.14.

Public Service Enterprise Group Trading Up 0.5%

NYSE:PEG opened at $84.77 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The business's 50-day moving average price is $82.74 and its two-hundred day moving average price is $82.23. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $42.30 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.58 and a beta of 0.53.

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 for the quarter, beating the consensus estimate 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 firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company's quarterly revenue 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. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was 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 dividend payout ratio (DPR) is currently 63.64%.

Public Service Enterprise Group 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.

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