MBB Public Markets I LLC Acquires Shares of 3,814 Public Service Enterprise Group Incorporated $PEG

Key Points

• MBB Public Markets I LLC has initiated a new investment in Public Service Enterprise Group by acquiring 3,814 shares valued at approximately $314,000.
• Public Service Enterprise Group reported earnings of $0.77 per share for the last quarter, exceeding estimates, with a revenue increase of 15.8% year-over-year.
• A quarterly dividend of $0.63 per share has been declared, representing a yield of 3.1%, with the payment set for September 30th.

MBB Public Markets I LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,814 shares of the utilities provider's stock, valued at approximately $314,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Public Service Enterprise Group by 4.9% during 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. increased its stake in Public Service Enterprise Group by 2.3% during 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. Raymond James Financial Inc. increased its stake in Public Service Enterprise Group by 5.2% during 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Public Service Enterprise Group by 15.7% during the fourth 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. Finally, Charles Schwab Investment Management Inc. increased its stake in Public Service Enterprise Group by 1.0% during 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 currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction that occurred on 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Up 0.9%

Shares of NYSE:PEG traded up $0.71 during mid-day trading on Friday, hitting $82.74. 1,703,010 shares of the company traded hands, compared to its average volume of 2,608,096. The firm has a market cap of $41.29 billion, a P/E ratio of 20.89, a PEG ratio of 2.85 and a beta of 0.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The firm's 50 day simple moving average is $84.45 and its 200 day simple moving average is $82.09.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS 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 business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the business posted $0.63 EPS. The company'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. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

Analysts Set New Price Targets

Several equities research analysts have commented on PEG shares. BMO Capital Markets upped their price target on 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 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 upped their price target on 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. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Finally, Morgan Stanley dropped their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.95.

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.