Price T Rowe Associates Inc. MD Has $59.62 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Price T Rowe Associates Inc. increased its stake in Public Service Enterprise Group by 1.5%, acquiring an additional 10,750 shares and owning a total of 724,434 shares valued at approximately $59.62 million.
• Public Service Enterprise Group reported quarterly earnings of $0.77 per share, surpassing analysts' expectations and generating revenue of $2.81 billion, a 15.8% increase from the previous year.
• The company announced a quarterly dividend of $0.63 per share, reflecting an annualized yield of 3.0%, with a dividend payout ratio of 63.64%.

Price T Rowe Associates Inc. MD lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 724,434 shares of the utilities provider's stock after buying an additional 10,750 shares during the period. Price T Rowe Associates Inc. MD owned about 0.15% of Public Service Enterprise Group worth $59,622,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PEG. Nebula Research & Development LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth $444,000. Boothbay Fund Management LLC acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $304,000. Optiver Holding B.V. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $50,000. Northern Trust Corp boosted its holdings in shares of Public Service Enterprise Group by 6.1% during the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after acquiring an additional 335,135 shares in the last quarter. Finally, Lido Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 4.0% during the 4th quarter. Lido Advisors LLC now owns 9,791 shares of the utilities provider's stock valued at $827,000 after acquiring an additional 378 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Morgan Stanley cut their price objective 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. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. UBS Group raised their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Barclays decreased 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 report on Thursday, July 10th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and an average price target of $90.95.

Public Service Enterprise Group Trading Down 0.3%

NYSE PEG traded down $0.23 on Monday, reaching $82.36. The company had a trading volume of 2,254,583 shares, compared to its average volume of 2,773,879. The firm has a market cap of $41.10 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.86 and a beta of 0.50. 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 fifty-two week low of $74.67 and a fifty-two week high of $95.22. The business has a 50 day moving average of $84.68 and a two-hundred day moving average of $82.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) 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 analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group's payout ratio is presently 63.64%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by 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.