Strs Ohio Purchases New Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Strs Ohio invested approximately $2.36 million in Public Service Enterprise Group, acquiring 28,691 shares, according to their recent SEC filing.
• The company reported $0.77 EPS for the last quarter, exceeding estimates and showing a revenue increase of 15.8% year-over-year.
• A quarterly dividend of $0.63 per share has been announced, representing a yield of 3.0% for shareholders of record on September 9th.

Strs Ohio acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 28,691 shares of the utilities provider's stock, valued at approximately $2,361,000.

Other large investors have also bought and sold shares of the company. REAP Financial Group LLC boosted 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 valued at $27,000 after acquiring an additional 162 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth approximately $50,000. Finally, Sound Income Strategies LLC boosted its position in shares of 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 worth $58,000 after purchasing an additional 361 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PEG. Morgan Stanley dropped their price target 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. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 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 report on Thursday, July 10th. Finally, UBS Group boosted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $91.55.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock traded up $0.38 during mid-day trading on Friday, hitting $81.57. The stock had a trading volume of 4,629,404 shares, compared to its average volume of 2,572,023. The firm has a market capitalization of $40.71 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.82 and a beta of 0.50. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The firm's 50 day moving average is $84.39 and its 200 day moving average is $82.09. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate 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 net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

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.