Harrell Investment Partners LLC lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 19.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,671 shares of the utilities provider's stock after buying an additional 5,961 shares during the period. Harrell Investment Partners LLC's holdings in Public Service Enterprise Group were worth $3,087,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PEG. Vanguard Group Inc. lifted its stake in shares of Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after buying an additional 2,986,646 shares during the period. Nuveen LLC bought a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $95,076,000. Cbre Investment Management Listed Real Assets LLC bought a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Public Service Enterprise Group by 20.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider's stock valued at $395,354,000 after buying an additional 806,782 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Public Service Enterprise Group by 476.9% in the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock valued at $75,652,000 after buying an additional 759,873 shares during the period. Institutional investors own 73.34% of the company's stock.
Public Service Enterprise Group Stock Performance
NYSE PEG opened at $82.39 on Thursday. The firm has a market cap of $41.12 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.86 and a beta of 0.50. The company has a 50 day moving average of $84.38 and a 200-day moving average of $82.14. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22.
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 for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the business posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 63.64%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Morgan Stanley cut their price target on shares of 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. BMO Capital Markets raised their price target on shares of 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. Barclays cut their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. UBS Group raised their price target on shares of 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. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.55.
Read Our Latest Stock Analysis on PEG
Insider Buying and Selling at Public Service Enterprise Group
In other news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company's stock.
Public Service Enterprise Group Profile
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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.
Further Reading
Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report).
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