Jacobs Levy Equity Management Inc. Purchases 53,553 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Jacobs Levy Equity Management Inc. increased its holdings in Public Service Enterprise Group by 12.4% during the first quarter, owning approximately 483,717 shares worth $39.81 million.
• Public Service Enterprise Group reported a 15.8% increase in quarterly revenue year-over-year, achieving $2.81 billion and exceeding estimates of $2.49 billion.
• The company declared a quarterly dividend of $0.63 per share with a yield of 3.1%, set to be paid on September 30th.

Jacobs Levy Equity Management Inc. raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 483,717 shares of the utilities provider's stock after purchasing an additional 53,553 shares during the period. Jacobs Levy Equity Management Inc. owned 0.10% of Public Service Enterprise Group worth $39,810,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. REAP Financial Group LLC grew its stake 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 $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth $50,000. Finally, Sound Income Strategies LLC grew its stake 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.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded up $0.12 during trading on Thursday, reaching $81.84. The stock had a trading volume of 654,693 shares, compared to its average volume of 2,858,643. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The business's 50-day moving average price is $84.42 and its 200 day moving average price is $82.11. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The stock has a market capitalization of $40.85 billion, a PE ratio of 20.69, a P/E/G ratio of 2.78 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 earnings per share (EPS) 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 company had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. Public Service Enterprise Group's quarterly 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. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.63 dividend. 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 currently 63.64%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was 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 directly owned 218,328 shares of the company's stock, 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 filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Barclays lowered their price objective 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 note on Thursday, July 10th. Morgan Stanley decreased 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 note on Wednesday, June 18th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, UBS Group lifted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $90.95.

About Public Service Enterprise Group

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.