Ransom Advisory Ltd Invests $403,000 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 bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,900 shares of the utilities provider's stock, valued at approximately $403,000.

Other institutional investors also recently modified their holdings of the company. REAP Financial Group LLC raised its position in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares during the period. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $32,000. Wealth Preservation Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $33,000. Zions Bancorporation National Association UT purchased a new stake in Public Service Enterprise Group in the 1st quarter valued at $50,000. Finally, Sound Income Strategies LLC raised its position in Public Service Enterprise Group by 105.9% in the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock valued at $58,000 after buying an additional 361 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded up $0.46 during trading hours on Monday, reaching $83.15. 670,162 shares of the stock traded hands, compared to its average volume of 2,848,633. The company has a market capitalization of $41.50 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 2.88 and a beta of 0.50. 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 52-week low of $74.67 and a 52-week high of $95.22. The company's 50-day simple moving average is $84.45 and its two-hundred day simple moving average is $82.10.

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 for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion for 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%.Public Service Enterprise Group's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 63.64%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the transaction, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of analyst reports. 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. UBS Group increased their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets increased their price target on 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. Finally, Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.