International Private Wealth Advisors LLC Sells 3,138 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• International Private Wealth Advisors LLC reduced its holdings in Public Service Enterprise Group by 49.1%, owning 3,250 shares after selling 3,138 shares during the second quarter.
• Public Service Enterprise Group reported $0.77 earnings per share (EPS) for the last quarter, exceeding expectations and achieving a 15.8% year-over-year revenue increase.
• The company recently declared a quarterly dividend of $0.63 per share, equating to an annual yield of 3.1%.

International Private Wealth Advisors LLC lessened its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 49.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,250 shares of the utilities provider's stock after selling 3,138 shares during the period. International Private Wealth Advisors LLC's holdings in Public Service Enterprise Group were worth $274,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. REAP Financial Group LLC boosted its position 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 worth $27,000 after acquiring an additional 162 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $50,000. Finally, Sound Income Strategies LLC boosted its position 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 worth $58,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group 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 sale, 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 accessible through this hyperlink. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Trading Down 0.1%

NYSE PEG traded down $0.11 during mid-day trading on Tuesday, reaching $81.62. 417,133 shares of the stock were exchanged, compared to its average volume of 2,845,710. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The stock has a 50 day simple moving average of $84.37 and a 200-day simple moving average of $82.14. The stock has a market cap of $40.73 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.84 and a beta of 0.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced 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 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 the consensus estimate of $2.49 billion. During the same quarter last year, the firm earned $0.63 earnings per share. Public Service Enterprise Group's quarterly revenue 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, 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PEG shares. 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. BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. UBS Group increased 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 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 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. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.55.

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.