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

Key Points

• NewEdge Advisors LLC increased its stake in Public Service Enterprise Group by 15%, owning 55,189 shares valued at approximately $4.54 million.
• CEO Ralph A. Larossa sold 1,387 shares for around $115,287, reducing his ownership by 0.63%, while still holding 218,328 shares valued at over $18 million.
• Public Service Enterprise Group declared a quarterly dividend of $0.63 per share, representing a 3.1% annualized yield, with a payout ratio of 63.64%.

NewEdge Advisors LLC lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 15.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,189 shares of the utilities provider's stock after purchasing an additional 7,193 shares during the period. NewEdge Advisors LLC's holdings in Public Service Enterprise Group were worth $4,542,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Public Service Enterprise Group by 6.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after purchasing an additional 2,803 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $298,000. Exchange Traded Concepts LLC increased its stake in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after purchasing an additional 447 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after purchasing an additional 3,601 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $329,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PEG shares. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. 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. 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 upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Finally, 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. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $90.95.

Public Service Enterprise Group Trading Up 0.9%

Public Service Enterprise Group stock traded up $0.71 during midday trading on Friday, hitting $82.74. 1,609,010 shares of the stock were exchanged, compared to its average volume of 2,861,110. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The stock has a market capitalization of $41.29 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.84 and a beta of 0.50. The stock's 50-day simple moving average is $84.43 and its 200 day simple moving average is $82.10. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

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 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period last year, the business earned $0.63 earnings per share. The business's revenue for the quarter was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 63.64%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group 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 completion of 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 legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by company 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.