Intech Investment Management LLC Buys 9,563 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Intech Investment Management LLC increased its stake in Public Service Enterprise Group by 69.6%, owning a total of 23,301 shares valued at approximately $1.92 million as of its latest SEC filing.
• Public Service Enterprise Group reported a quarterly earnings of $0.77 EPS, surpassing expectations by $0.07, with revenues rising 15.8% year-over-year.
• The company declared a quarterly dividend of $0.63 per share, with a dividend yield of 3.1%, set to be paid on September 30th to shareholders of record on September 9th.

Intech Investment Management LLC raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 69.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,301 shares of the utilities provider's stock after acquiring an additional 9,563 shares during the quarter. Intech Investment Management LLC's holdings in Public Service Enterprise Group were worth $1,918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Two Sigma Advisers LP acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $600,000. Vident Advisory LLC grew its holdings in Public Service Enterprise Group by 13.0% during the 4th quarter. Vident Advisory LLC now owns 13,290 shares of the utilities provider's stock worth $1,123,000 after acquiring an additional 1,533 shares during the last quarter. Woodline Partners LP bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $2,528,000. Waverly Advisors LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $266,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Public Service Enterprise Group by 15.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider's stock worth $337,709,000 after acquiring an additional 542,671 shares during the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.5%

Shares of PEG stock traded up $0.38 on Friday, hitting $81.57. The stock had a trading volume of 4,629,404 shares, compared to its average volume of 2,572,023. The business has a 50 day moving average of $84.39 and a 200 day moving average of $82.09. The stock has a market cap of $40.71 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.82 and a beta of 0.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22.

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

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PEG shares. UBS Group boosted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets increased 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 research report on Wednesday, August 6th. Barclays decreased their target price 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 report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.55.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated 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 owned 218,328 shares in the company, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.