Mainstay Capital Management LLC ADV Buys 3,974 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Mainstay Capital Management LLC increased its stake in Public Service Enterprise Group (PEG) by 99.7%, acquiring 3,974 additional shares, bringing their total holdings to 7,960 shares worth approximately $670,000.
• Public Service Enterprise Group reported a profit of $0.77 per share for the last quarter, surpassing analysts' estimates, and had a revenue of $2.81 billion, an increase of 15.8% year-over-year.
• The company recently declared a quarterly dividend of $0.63 per share, which amounts to an annualized yield of 3.1% and has a payout ratio of 63.64%.

Mainstay Capital Management LLC ADV grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 99.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,960 shares of the utilities provider's stock after acquiring an additional 3,974 shares during the period. Mainstay Capital Management LLC ADV's holdings in Public Service Enterprise Group were worth $670,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised 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 worth $5,247,586,000 after acquiring an additional 2,986,646 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Public Service Enterprise Group by 2.3% in the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock worth $600,317,000 after acquiring an additional 162,261 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $395,354,000 after acquiring an additional 806,782 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of Public Service Enterprise Group by 5.2% in the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock worth $385,439,000 after acquiring an additional 230,636 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Public Service Enterprise Group by 1.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider's stock worth $251,979,000 after acquiring an additional 31,631 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PEG shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Wednesday. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. BMO Capital Markets boosted 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 dropped 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. Finally, Wall Street Zen raised 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 five have issued a Hold rating to the company's stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average price target of $90.95.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $81.83 on Thursday. The stock has a market capitalization of $40.84 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 2.80 and a beta of 0.53. 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 fifty day simple moving average of $83.50 and a 200 day simple moving average of $82.19. 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 data 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. The company had revenue of $2.81 billion for 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 period in the prior year, the firm earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts forecast 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. 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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