3,814 Shares in Public Service Enterprise Group Incorporated $PEG Bought by MBB Public Markets I LLC

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 acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,814 shares of the utilities provider's stock, valued at approximately $314,000.

Several other hedge funds have also recently bought and sold shares of PEG. REAP Financial Group LLC raised its holdings in 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 buying an additional 162 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $50,000. Finally, Sound Income Strategies LLC raised its holdings in shares of Public Service Enterprise Group by 105.9% in the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock valued at $58,000 after purchasing an additional 361 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 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 represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

PEG traded up $0.46 on Monday, hitting $83.15. 413,655 shares of the stock were exchanged, compared to its average volume of 2,847,169. 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 capitalization of $41.50 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 2.88 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The business has a 50-day moving average of $84.45 and a two-hundred day moving average of $82.10.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous 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. Sell-side 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given 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 of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently 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. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Morgan Stanley lowered their target price on shares of 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. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Finally, Barclays reduced 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. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.55.

Public Service Enterprise Group Company 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.