Public Service Enterprise Group Incorporated $PEG Shares Acquired by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR has increased its stake in Public Service Enterprise Group by 10.7%, owning 56,753 shares worth approximately $4.77 million.
• Public Service Enterprise Group reported a quarterly earnings per share of $0.77, exceeding analysts' expectations, with a revenue of $2.81 billion for the quarter.
• The company announced a quarterly dividend of $0.63, translating to an annualized dividend of $2.52 and a dividend yield of 3.0%.

Generali Asset Management SPA SGR raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,753 shares of the utilities provider's stock after buying an additional 5,504 shares during the quarter. Generali Asset Management SPA SGR's holdings in Public Service Enterprise Group were worth $4,777,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEG. Keener Financial Planning LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $27,000. Headlands Technologies LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter valued at $33,000. Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at $33,000. Finally, Costello Asset Management INC grew its holdings in Public Service Enterprise Group by 290.6% during the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider's stock valued at $45,000 after buying an additional 401 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Trading Up 2.7%

Shares of PEG opened at $84.66 on Thursday. 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 market capitalization of $42.25 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 2.53 and a beta of 0.53. The stock's fifty day simple moving average is $82.86 and its 200 day simple moving average is $82.21. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping 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 return on equity of 12.08% and a net margin of 17.78%.The business's quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore ISI assumed coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They set an "in-line" rating and a $83.00 target price on the stock. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Barclays decreased their price objective on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. UBS Group raised their price objective on 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, Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.95.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.