Northwest & Ethical Investments L.P. Has $3.68 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Northwest & Ethical Investments L.P. reduced its stake in Public Service Enterprise Group by 24.7%, selling 14,630 shares and retaining 44,694 shares worth approximately $3.68 million.
• Public Service Enterprise Group posted $0.77 earnings per share for the last quarter, surpassing estimates of $0.70 and reporting revenue of $2.81 billion, which was also above predictions.
• The company announced a quarterly dividend of $0.63 per share, representing a dividend yield of 3.0%, with the payment scheduled for September 30th.

Northwest & Ethical Investments L.P. decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 24.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,694 shares of the utilities provider's stock after selling 14,630 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Public Service Enterprise Group were worth $3,678,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. grew its holdings in shares of 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 purchasing an additional 2,803 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $298,000. Exchange Traded Concepts LLC grew its holdings in shares of Public Service Enterprise Group by 12.7% during the 1st 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 in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Public Service Enterprise Group by 4.2% during the 1st 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 in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth $329,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Guggenheim reduced their target price on Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. BMO Capital Markets increased their target price on 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. Barclays dropped 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 report on Thursday, July 10th. Finally, Evercore ISI dropped their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Price Performance

PEG traded up $0.3440 on Friday, reaching $83.6340. The stock had a trading volume of 3,117,018 shares, compared to its average volume of 2,499,858. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The firm has a 50-day moving average of $84.59 and a 200-day moving average of $82.32. 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 capitalization of $41.74 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.90 and a beta of 0.45.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating 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 quarter in the previous year, the company posted $0.63 EPS. 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, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business'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 transaction, the chief executive officer directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

About Public Service Enterprise Group

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.