Mn Services Vermogensbeheer B.V. Raises Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Mn Services Vermogensbeheer B.V. has increased its stake in Public Service Enterprise Group (PEG) by 3.7%, now holding 186,917 shares worth approximately $15.7 million.
• Several hedge funds, including Vanguard Group and Assenagon Asset Management, have also significantly adjusted their positions in PEG, reflecting growing institutional interest.
• Public Service Enterprise Group reported a quarterly EPS of $0.77, beating estimates, with a total revenue of $2.81 billion, indicating strong year-over-year growth.

Mn Services Vermogensbeheer B.V. raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,917 shares of the utilities provider's stock after buying an additional 6,700 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Public Service Enterprise Group were worth $15,735,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PEG. Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares during the last quarter. Nuveen LLC purchased a new position in shares of Public Service Enterprise Group in the first quarter worth $95,076,000. Cbre Investment Management Listed Real Assets LLC purchased a new position in shares of Public Service Enterprise Group in the first quarter worth $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 buying an additional 806,782 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of 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 worth $75,652,000 after buying an additional 759,873 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 sale, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group raised their target price 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. Barclays reduced their price objective 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. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.55.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $81.21 on Friday. The firm has a market cap of $40.53 billion, a PE ratio of 20.51, a PEG ratio of 2.80 and a beta of 0.50. The firm has a fifty day moving average of $84.41 and a 200 day moving average of $82.09. 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 one year low of $74.67 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the company posted $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. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS 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. Stockholders of record on Tuesday, September 9th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio 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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