Public Service Enterprise Group Incorporated $PEG Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. reduced its stake in Public Service Enterprise Group by 11.6% during the second quarter, holding 42,137 shares worth approximately $3.5 million post-sale.
• Analysts have a mixed outlook on Public Service Enterprise Group, with seven ratings of "Buy" and four as "Hold," while the stock currently has a consensus rating of Moderate Buy with an average target price of $91.85.
• The company announced a quarterly dividend of $0.63 per share, which represents an annualized yield of 3.1% and a payout ratio of 63.64%.

Robeco Institutional Asset Management B.V. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 11.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,137 shares of the utilities provider's stock after selling 5,522 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Public Service Enterprise Group were worth $3,547,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in Public Service Enterprise Group during the first quarter worth $32,000. Wealth Preservation Advisors LLC acquired a new stake in Public Service Enterprise Group during the first quarter worth $33,000. Marshall & Sullivan Inc. WA acquired a new stake in Public Service Enterprise Group during the second quarter worth $33,000. Zions Bancorporation National Association UT acquired a new stake in Public Service Enterprise Group during the first quarter worth $50,000. Finally, Sound Income Strategies LLC increased its stake in Public Service Enterprise Group by 105.9% during 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. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PEG shares. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Saturday, September 27th. BMO Capital Markets raised their price target on 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 raised their price target on 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. Barclays lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and an average target price of $91.85.

Public Service Enterprise Group Stock Down 0.2%

Shares of NYSE PEG opened at $81.84 on Tuesday. The company has a market capitalization of $40.84 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. 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 business has a 50-day moving average of $83.81 and a two-hundred day moving average of $82.21. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts forecast 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.

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.

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