Public Service Enterprise Group Incorporated $PEG Shares Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its stake in Public Service Enterprise Group by 32.4%, acquiring an additional 3,102 shares, bringing its total ownership to 12,688 shares valued at over $1 million.
• Public Service Enterprise Group's stock is currently trading around $85.34 with a market capitalization of $42.59 billion and a reported P/E ratio of 21.55.
• The company announced a quarterly dividend of $0.63 per share, indicating a 3.0% yield, with a payout ratio of 63.64%.

Townsquare Capital LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 32.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,688 shares of the utilities provider's stock after purchasing an additional 3,102 shares during the period. Townsquare Capital LLC's holdings in Public Service Enterprise Group were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PEG. Vanguard Group Inc. grew its holdings in shares of Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in 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 worth $75,652,000 after acquiring an additional 759,873 shares in the last quarter. GAMMA Investing LLC grew its holdings in Public Service Enterprise Group by 8,465.1% during the 1st quarter. GAMMA Investing LLC now owns 586,881 shares of the utilities provider's stock worth $48,300,000 after acquiring an additional 580,029 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Public Service Enterprise Group by 15.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider's stock worth $337,709,000 after acquiring an additional 542,671 shares in the last quarter. Finally, Reaves W H & Co. Inc. grew its holdings in Public Service Enterprise Group by 58.4% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider's stock worth $108,002,000 after acquiring an additional 483,682 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on PEG. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Guggenheim lowered their price target on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a report on Thursday, May 1st. BMO Capital Markets boosted their price target on shares of 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. UBS Group boosted 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. Finally, Evercore ISI lowered their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $90.95.

Public Service Enterprise Group Stock Up 0.4%

Shares of NYSE PEG traded up $0.31 during mid-day trading on Tuesday, reaching $84.43. The company had a trading volume of 377,259 shares, compared to its average volume of 2,864,480. 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 firm has a 50 day simple moving average of $84.32 and a two-hundred day simple moving average of $82.28. The stock has a market cap of $42.14 billion, a P/E ratio of 21.32, a PEG ratio of 2.97 and a beta of 0.45. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its 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. The firm 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 company's revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 yield of 3.0%. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

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.