MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $6.44 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Public Service Enterprise Group by 23.6% to $6.44 million, enhancing its position in the utilities sector.
• Public Service Enterprise Group reported $2.81 billion in revenue for the last quarter, exceeding analyst expectations, with earnings per share of $0.77, surpassing estimates by $0.07.
• The company announced a quarterly dividend of $0.63 per share, representing an annualized yield of 3.1%, with a payout ratio of 63.64%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 23.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,290 shares of the utilities provider's stock after buying an additional 14,940 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Public Service Enterprise Group were worth $6,443,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEG. Vanguard Group Inc. boosted its stake in 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 valued at $5,247,586,000 after buying an additional 2,986,646 shares in the last quarter. Nuveen LLC acquired a new stake in Public Service Enterprise Group in the first quarter valued at about $95,076,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in Public Service Enterprise Group in the first quarter valued at about $68,317,000. Assenagon Asset Management S.A. boosted its stake in Public Service Enterprise Group by 476.9% in the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock valued at $75,652,000 after buying an additional 759,873 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Public Service Enterprise Group by 8,465.1% in the first quarter. GAMMA Investing LLC now owns 586,881 shares of the utilities provider's stock valued at $48,300,000 after buying an additional 580,029 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 2.2%

Shares of Public Service Enterprise Group stock opened at $81.77 on Thursday. The stock has a fifty day simple moving average of $84.42 and a 200 day simple moving average of $82.11. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The company has a market capitalization of $40.81 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 2.78 and a beta of 0.50. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share 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 business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The business'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, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 dividend yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 63.64%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction 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 sale, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was 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. Insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PEG. BMO Capital Markets raised 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. Barclays cut their price target 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. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Morgan Stanley dropped their price target 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. Finally, UBS Group boosted their price target 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. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $90.95.

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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