Public Service Enterprise Group Incorporated $PEG Shares Acquired by CW Advisors LLC

Key Points

• CW Advisors LLC significantly increased its stake in Public Service Enterprise Group (PEG) by 758.8% in the first quarter, now holding shares worth approximately $3.26 million.
• Public Service Enterprise Group reported an EPS of $0.77 for the last quarter, surpassing expectations and reflecting a revenue increase of 15.8% year-over-year.
• The company announced a quarterly dividend of $0.63 per share, with a dividend yield of 3.0%, payable September 30th to stockholders of record as of September 9th.

CW Advisors LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 758.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,367 shares of the utilities provider's stock after purchasing an additional 34,783 shares during the period. CW Advisors LLC's holdings in Public Service Enterprise Group were worth $3,259,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC lifted its holdings in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 162 shares during the last quarter. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group in the first quarter valued at approximately $32,000. Optiver Holding B.V. acquired a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $50,000. Finally, Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group in the first quarter valued at approximately $50,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Up 0.4%

NYSE:PEG opened at $83.6340 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock's fifty day moving average is $84.59 and its two-hundred day moving average is $82.30. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The stock has a market capitalization of $41.74 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.91 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, topping 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 company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm's 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. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend 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 is currently 63.64%.

Wall Street Analyst Weigh In

PEG has been the topic of a number of recent analyst reports. Evercore ISI decreased their price objective on Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. UBS Group upped 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. Guggenheim decreased their price objective 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. Morgan Stanley decreased 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. Finally, Wall Street Zen cut 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.95.

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.

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