Public Service Enterprise Group Incorporated $PEG Shares Acquired by Norinchukin Bank The

Key Points

• Norinchukin Bank increased its stake in Public Service Enterprise Group (PEG) by 16.2% in Q1, owning 27,411 shares valued at $2.26 million.
• The company reported earnings of $0.77 per share for the last quarter, beating consensus estimates and marking a 15.8% year-over-year revenue increase.
• Public Service Enterprise Group declared a quarterly dividend of $0.63, resulting in an annual dividend yield of 3.0%.

Norinchukin Bank The grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,411 shares of the utilities provider's stock after buying an additional 3,814 shares during the quarter. Norinchukin Bank The's holdings in Public Service Enterprise Group were worth $2,256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. CW Advisors LLC increased its stake in shares of Public Service Enterprise Group by 758.8% during the 1st quarter. CW Advisors LLC now owns 39,367 shares of the utilities provider's stock worth $3,259,000 after purchasing an additional 34,783 shares during the last quarter. Summit Financial LLC raised its position in shares of Public Service Enterprise Group by 2.2% in the first quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock worth $507,000 after buying an additional 133 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Public Service Enterprise Group by 1.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 724,434 shares of the utilities provider's stock valued at $59,622,000 after buying an additional 10,750 shares during the period. Candriam S.C.A. grew its position in Public Service Enterprise Group by 2.4% during the first quarter. Candriam S.C.A. now owns 63,294 shares of the utilities provider's stock worth $5,209,000 after buying an additional 1,513 shares in the last quarter. Finally, Credit Agricole S A increased its stake in Public Service Enterprise Group by 7.0% in the 1st quarter. Credit Agricole S A now owns 162,674 shares of the utilities provider's stock worth $13,388,000 after acquiring an additional 10,642 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

PEG traded down $0.18 during trading on Thursday, hitting $82.66. 539,127 shares of the company traded hands, compared to its average volume of 2,874,637. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The company has a market cap of $41.25 billion, a PE ratio of 20.87, a P/E/G ratio of 2.90 and a beta of 0.45. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The stock's 50-day simple moving average is $84.69 and its two-hundred day simple moving average is $82.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results 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. The business had revenue of $2.81 billion for 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%. The business's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, 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. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 63.64%.

Analyst Ratings Changes

PEG has been the topic of a number of research analyst reports. UBS Group increased 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 report on Friday, July 25th. Evercore ISI decreased their price target on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley decreased 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 research note on Wednesday, June 18th. BMO Capital Markets raised their target price 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. Finally, Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.95.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, 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. 0.19% of the stock is currently owned by corporate insiders.

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.