Steward Partners Investment Advisory LLC Increases Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Steward Partners Investment Advisory LLC increased its stake in Public Service Enterprise Group by 9.0%, acquiring an additional 9,646 shares, bringing their total holdings to 116,971 shares valued at approximately $9.63 million.
• Public Service Enterprise Group's stock has a 52-week high of $95.22 and recently opened at $85.34, with analysts currently rating it as an average of "Hold" with a target price of $90.95.
• The company announced a quarterly dividend of $0.63, scheduled to be paid on September 30th, with an annualized yield of 3.0%.

Steward Partners Investment Advisory LLC increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 9.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,971 shares of the utilities provider's stock after acquiring an additional 9,646 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Public Service Enterprise Group were worth $9,627,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PEG. Transce3nd LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $25,000. REAP Financial Group LLC grew its position in 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 purchasing an additional 162 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Public Service Enterprise Group during the 1st quarter worth approximately $32,000. Finally, Optiver Holding B.V. purchased a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $50,000. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded up $0.3440 during trading on Friday, hitting $83.6340. 3,117,018 shares of the stock traded hands, compared to its average volume of 2,499,858. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.90 and a beta of 0.45. The company has a fifty day moving average price of $84.59 and a two-hundred day moving average price of $82.32. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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

Analysts Set New Price Targets

PEG has been the topic of several research analyst reports. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Barclays decreased their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Guggenheim decreased their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and an average target price of $90.95.

Insider Transactions at Public Service Enterprise Group

In related 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 sale, the chief executive officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group 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.