Public Service Enterprise Group Incorporated $PEG Stock Position Boosted by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stakes in Public Service Enterprise Group by 7.6%, owning approximately 373,650 shares valued at $30.75 million as of the latest SEC filing.
• Public Service Enterprise Group reported a quarterly earnings beat with $0.77 EPS, exceeding analyst estimates, and posted a revenue of $2.81 billion, up 15.8% year-over-year.
• The company recently announced a quarterly dividend of $0.63 per share, representing an annual yield of 3.0%, with payout scheduled for September 30.

Korea Investment CORP boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 7.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,650 shares of the utilities provider's stock after acquiring an additional 26,470 shares during the period. Korea Investment CORP owned 0.07% of Public Service Enterprise Group worth $30,751,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PEG. Transce3nd LLC bought a new stake in Public Service Enterprise Group during the fourth quarter valued at $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group during the fourth quarter valued at $25,000. REAP Financial Group LLC increased its stake in Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Headlands Technologies LLC bought a new stake in Public Service Enterprise Group during the first quarter valued at $32,000. Finally, Optiver Holding B.V. bought a new stake in Public Service Enterprise Group during the fourth quarter valued at $50,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PEG. Evercore ISI lowered their target price on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Guggenheim lowered their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. UBS Group boosted 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 note on Friday, July 25th. Morgan Stanley lowered 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 note on Wednesday, June 18th. Finally, Barclays lowered 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 note on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and an average price target of $90.95.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock traded up $0.3440 during trading on Friday, hitting $83.6340. 3,117,018 shares of the stock were exchanged, compared to its average volume of 2,499,858. The stock's fifty day moving average is $84.59 and its 200 day moving average is $82.32. The stock has a market cap of $41.74 billion, a PE ratio of 21.12, a P/E/G ratio of 2.90 and a beta of 0.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22.

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 the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated 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. This represents a 0.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is 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.