Swedbank AB Buys 8,716 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Swedbank AB has increased its stake in Public Service Enterprise Group (PEG) by 1.9%, holding approximately 459,980 shares valued at around $37.86 million.
• Barclays and Morgan Stanley have cut their price targets for PEG, while BMO Capital Markets and UBS raised theirs, with the current consensus target price set at $91.55.
• The company reported earnings of $0.77 per share for the most recent quarter, surpassing expectations and signaling a 15.8% increase in revenue year-over-year.

Swedbank AB grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 459,980 shares of the utilities provider's stock after acquiring an additional 8,716 shares during the quarter. Swedbank AB owned 0.09% of Public Service Enterprise Group worth $37,856,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PEG. REAP Financial Group LLC lifted its holdings in shares of Public Service Enterprise Group by 105.9% during the 4th 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 in the last quarter. Headlands Technologies LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter valued at about $33,000. Zions Bancorporation National Association UT bought a new position in shares of Public Service Enterprise Group during the 1st quarter valued at about $50,000. Finally, Sound Income Strategies LLC lifted its holdings in shares of Public Service Enterprise Group by 105.9% during the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock valued at $58,000 after purchasing an additional 361 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PEG shares. UBS Group lifted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Barclays decreased their price target 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. 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 report on Wednesday, June 18th. Finally, BMO Capital Markets raised 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. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $91.55.

Public Service Enterprise Group Stock Performance

Shares of PEG traded up $0.33 during mid-day trading on Monday, reaching $83.02. The company's stock had a trading volume of 2,237,063 shares, compared to its average volume of 2,547,135. 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 Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The business has a 50-day simple moving average of $84.47 and a two-hundred day simple moving average of $82.11. The stock has a market cap of $41.43 billion, a P/E ratio of 20.96, a PEG ratio of 2.88 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 for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the firm earned $0.63 EPS. The firm's 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 research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given 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 is presently 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 shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company's stock.

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.