Rafferty Asset Management LLC Sells 11,094 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Rafferty Asset Management LLC reduced its holdings in Public Service Enterprise Group by 19.8%, selling 11,094 shares and now owns 44,837 shares valued at approximately $3.69 million.
• Public Service Enterprise Group reported quarterly earnings of $0.77 EPS, surpassing estimates of $0.70, with revenue of $2.81 billion, reflecting a 15.8% year-over-year increase.
• The company announced a quarterly dividend of $0.63 per share, indicating an annualized yield of 3.1%, with the ex-dividend date set for September 9th.

Rafferty Asset Management LLC decreased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 19.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,837 shares of the utilities provider's stock after selling 11,094 shares during the period. Rafferty Asset Management LLC's holdings in Public Service Enterprise Group were worth $3,690,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Centre Asset Management LLC increased its stake in Public Service Enterprise Group by 3.2% during the 1st quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock valued at $324,000 after buying an additional 121 shares during the period. FourThought Financial Partners LLC grew its stake in shares of Public Service Enterprise Group by 2.8% in the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after purchasing an additional 127 shares during the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Public Service Enterprise Group by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after purchasing an additional 130 shares during the last quarter. Summit Financial LLC grew its stake in shares of Public Service Enterprise Group by 2.2% in the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock worth $507,000 after purchasing an additional 133 shares during the last quarter. Finally, Apella Capital LLC grew its stake in shares of Public Service Enterprise Group by 2.7% in the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after purchasing an additional 144 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.4%

Shares of Public Service Enterprise Group stock traded up $0.37 during trading on Thursday, hitting $81.72. 2,478,724 shares of the stock traded hands, compared to its average volume of 2,468,839. The company has a fifty day moving average price of $84.60 and a two-hundred day moving average price of $82.22. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The stock has a market cap of $40.78 billion, a P/E ratio of 20.64, a PEG ratio of 2.83 and a beta of 0.50. 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 (NYSE:PEG - Get Free Report) last posted its 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. 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 the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The company's revenue for the quarter 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. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. 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 dividend payout ratio is presently 63.64%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the business's 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 sale, the chief executive officer 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective 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. Barclays cut 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 report on Thursday, July 10th. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. Finally, UBS Group boosted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average price target of $90.95.

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.