Ransom Advisory Ltd Acquires New Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Ransom Advisory Ltd acquired a new position in Public Service Enterprise Group, purchasing 4,900 shares valued at approximately $403,000.
• Public Service Enterprise Group reported $0.77 earnings per share this quarter, beating analysts' estimates of $0.70, with a revenue of $2.81 billion.
• The company announced a quarterly dividend of $0.63 per share, which translates to an annual yield of 3.1% and will be paid on September 30th.

Ransom Advisory Ltd acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,900 shares of the utilities provider's stock, valued at approximately $403,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Glenview Trust co grew its position in Public Service Enterprise Group by 2.0% during the 1st quarter. Glenview Trust co now owns 213,893 shares of the utilities provider's stock worth $17,603,000 after acquiring an additional 4,249 shares during the last quarter. Advisory Alpha LLC grew its position in Public Service Enterprise Group by 32.1% during the 1st quarter. Advisory Alpha LLC now owns 4,709 shares of the utilities provider's stock worth $388,000 after acquiring an additional 1,143 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Public Service Enterprise Group by 20.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider's stock worth $395,354,000 after acquiring an additional 806,782 shares during the last quarter. Woodline Partners LP grew its position in Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider's stock worth $3,464,000 after acquiring an additional 12,172 shares during the last quarter. Finally, Zimmer Partners LP bought a new position in Public Service Enterprise Group during the 1st quarter worth approximately $30,451,000. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on 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 owned 218,328 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Down 0.2%

NYSE PEG opened at $80.00 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22. The firm has a market capitalization of $39.93 billion, a PE ratio of 20.20, a P/E/G ratio of 2.79 and a beta of 0.50. The stock's 50 day moving average is $84.41 and its 200 day moving average is $82.11.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group's payout ratio is presently 63.64%.

Analyst Ratings Changes

PEG has been the topic of several recent research reports. Barclays reduced their price target on 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. UBS Group lifted their price objective 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. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday. BMO Capital Markets lifted their price objective 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. Finally, Morgan Stanley cut their price objective on 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. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.

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