Public Service Enterprise Group Incorporated $PEG Shares Acquired by Resolution Capital Ltd

Key Points

• Resolution Capital Ltd increased its stake in Public Service Enterprise Group by 14%, accumulating a total of 61,908 shares, making it the 28th largest position in their investment portfolio.
• The company reported earnings of $0.77 EPS for the last quarter, exceeding estimates of $0.70, and increased revenue by 15.8% to $2.81 billion.
• Public Service Enterprise Group announced a quarterly dividend of $0.63 per share, which equates to an annualized yield of 3.1%, with the payout ratio at 63.64%.

Resolution Capital Ltd increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 14.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,908 shares of the utilities provider's stock after acquiring an additional 7,604 shares during the period. Public Service Enterprise Group makes up 0.1% of Resolution Capital Ltd's investment portfolio, making the stock its 28th largest position. Resolution Capital Ltd's holdings in Public Service Enterprise Group were worth $5,095,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PEG. REAP Financial Group LLC boosted its position in shares of 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 worth $27,000 after acquiring an additional 162 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth approximately $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth approximately $50,000. Finally, Sound Income Strategies LLC boosted its position in shares of Public Service Enterprise Group by 105.9% in the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock worth $58,000 after acquiring an additional 361 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other 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 transaction of $115,287.44. Following the transaction, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Down 0.7%

NYSE PEG opened at $81.12 on Friday. The company's fifty day simple moving average is $84.55 and its 200-day simple moving average is $82.20. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. 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 stock has a market cap of $40.49 billion, a P/E ratio of 20.49, a PEG ratio of 2.84 and a beta of 0.50.

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, topping 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 for the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The business's revenue for the quarter 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. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced 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. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 63.64%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PEG shares. UBS Group lifted their price target 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. BMO Capital Markets lifted their price target 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. Barclays reduced their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Morgan Stanley reduced their price target on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average target price 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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