Prasad Wealth Partners LLC Invests $430,000 in Public Service Enterprise Group Incorporated $PEG

Key Points

• Prasad Wealth Partners LLC has invested approximately $430,000 in Public Service Enterprise Group, acquiring 5,103 shares in the company during the second quarter.
• Public Service Enterprise Group reported a quarterly earnings per share (EPS) of $0.77, surpassing expectations and showing a 15.8% increase in revenue year-over-year.
• The company recently declared a quarterly dividend of $0.63 per share, contributing to a 3.1% dividend yield and a payout ratio of 63.64%.

Prasad Wealth Partners LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 5,103 shares of the utilities provider's stock, valued at approximately $430,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Vanguard Group Inc. increased its stake in 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 buying an additional 2,986,646 shares during the last quarter. Nuveen LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $95,076,000. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter valued at approximately $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Public Service Enterprise Group by 20.2% during the 1st 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 valued at $395,354,000 after acquiring an additional 806,782 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Public Service Enterprise Group by 476.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider's stock valued at $75,652,000 after acquiring an additional 759,873 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 0.2%

Shares of NYSE:PEG opened at $81.84 on Tuesday. The firm has a fifty day moving average price of $83.81 and a two-hundred day moving average price of $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. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The company has a market cap of $40.84 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.85 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period last year, the firm earned $0.63 EPS. The business's quarterly 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 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Analyst Upgrades and Downgrades

PEG has been the subject of a number of research reports. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Barclays reduced 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 report on Thursday, July 10th. UBS Group increased their target price on shares of 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. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Finally, Morgan Stanley cut 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 report on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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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