IFM Investors Pty Ltd Cuts Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• IFM Investors Pty Ltd has decreased its holdings in Public Service Enterprise Group by 16.8%, selling 29,408 shares during the first quarter, leaving it with 145,440 shares valued at approximately $11.97 million.
• Several institutional investors, including Vanguard Group and Assenagon Asset Management, have notably increased their stakes in the company, reflecting a growing interest in Public Service Enterprise Group among hedge funds.
• The company announced a quarterly dividend of $0.63 per share, with an annualized yield of 3.1%, indicating ongoing shareholder returns despite recent fluctuations in stock ratings.

IFM Investors Pty Ltd trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 16.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,440 shares of the utilities provider's stock after selling 29,408 shares during the period. IFM Investors Pty Ltd's holdings in Public Service Enterprise Group were worth $11,970,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. REAP Financial Group LLC raised its stake in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares during the period. Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $32,000. Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $33,000. Zions Bancorporation National Association UT bought a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $50,000. Finally, Sound Income Strategies LLC raised its stake in shares of Public Service Enterprise Group by 105.9% during the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock worth $58,000 after purchasing an additional 361 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Morgan Stanley lowered 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 boosted their price objective 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. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Finally, Barclays lowered their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus target price of $91.55.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $0.86 during midday trading on Tuesday, hitting $82.11. 361,383 shares of the company traded hands, compared to its average volume of 2,843,997. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market cap of $40.98 billion, a P/E ratio of 20.74, a PEG ratio of 2.88 and a beta of 0.50. The stock has a 50-day moving average of $84.47 and a 200-day moving average of $82.11.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping 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 company had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Public Service Enterprise Group's 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. 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 Dividend Announcement

The firm 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 payout ratio is presently 63.64%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company's stock.

About Public Service Enterprise Group

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.