Mirae Asset Global Investments Co. Ltd. Has $4.83 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Mirae Asset Global Investments has reduced its holdings in Public Service Enterprise Group by 43.2%, owning 57,329 shares valued at approximately $4.83 million after the sale.
• Public Service Enterprise Group recently reported Q2 earnings of $0.77 EPS, surpassing estimates of $0.70, with a 15.8% increase in revenue compared to the previous year.
• The company announced a quarterly dividend of $0.63 per share, equating to an annualized dividend yield of 3.1%, and maintains a dividend payout ratio of 63.64%.

Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 43.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,329 shares of the utilities provider's stock after selling 43,640 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Public Service Enterprise Group were worth $4,826,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PEG. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group during the 1st quarter worth about $32,000. Marshall & Sullivan Inc. WA bought a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $33,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $33,000. Zions Bancorporation National Association UT bought a new stake in Public Service Enterprise Group during the first quarter worth about $50,000. Finally, Sound Income Strategies LLC boosted its position in Public Service Enterprise Group by 105.9% during 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. Institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on PEG. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Saturday, September 27th. 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 note on Thursday, July 10th. UBS Group upped their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Finally, BMO Capital Markets boosted their price objective 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. Seven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $81.84 on Tuesday. The company's 50-day moving average is $83.81 and its 200-day moving average is $82.21. 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 $40.84 billion, a PE ratio of 20.67, a PEG ratio of 2.85 and a beta of 0.53. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22.

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, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion during 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%. Public Service Enterprise Group's revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a dividend of $0.63 per share. The ex-dividend date was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

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.

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