Moody Lynn & Lieberson LLC Has $303,000 Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Moody Lynn & Lieberson LLC significantly reduced its stake in Public Service Enterprise Group, selling 6,263 shares for a total holding of $303,000, a decrease of 63.5% in the second quarter.
• The company reported a quarterly earnings per share of $0.77, surpassing analyst expectations, and its revenue increased by 15.8% year-over-year, reaching $2.81 billion.
• A quarterly dividend of $0.63 per share was announced, representing a 3.0% yield, with the dividend payout ratio standing at 63.64%.

Moody Lynn & Lieberson LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 63.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,601 shares of the utilities provider's stock after selling 6,263 shares during the quarter. Moody Lynn & Lieberson LLC's holdings in Public Service Enterprise Group were worth $303,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. raised its stake in Public Service Enterprise Group by 6.2% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after buying an additional 2,803 shares during the period. Sowell Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group in the first quarter worth approximately $298,000. Exchange Traded Concepts LLC raised its stake in shares of Public Service Enterprise Group by 12.7% in the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after purchasing an additional 447 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Public Service Enterprise Group by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after purchasing an additional 3,601 shares during the last quarter. Finally, Chemistry Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $579,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $82.98 on Tuesday. The stock has a fifty day simple moving average of $84.27 and a two-hundred day simple moving average of $82.23. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The firm has a market cap of $41.42 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 2.86 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 announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share 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 during the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company earned $0.63 earnings per share. Public Service Enterprise Group's revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend 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 63.64%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEG. Barclays lowered 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. BMO Capital Markets increased their price objective 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. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. UBS Group increased their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Morgan Stanley decreased their price target on 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. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $91.85.

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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