Truvestments Capital LLC Grows Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Truvestments Capital LLC significantly increased its stake in Public Service Enterprise Group (PEG) by 5,687% in the first quarter, now holding shares worth $329,000.
• Public Service Enterprise Group reported quarterly earnings that exceeded expectations, with earnings per share at $0.77 and revenue of $2.81 billion, marking a 15.8% year-over-year increase.
• The company announced a quarterly dividend of $0.63 per share, reflecting an annualized yield of 3.0% and a dividend payout ratio of 63.64%.

Truvestments Capital LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5,687.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,993 shares of the utilities provider's stock after acquiring an additional 3,924 shares during the period. Truvestments Capital LLC's holdings in Public Service Enterprise Group were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter worth approximately $33,000. CreativeOne Wealth LLC grew its position in shares of Public Service Enterprise Group by 17.5% in the first quarter. CreativeOne Wealth LLC now owns 5,516 shares of the utilities provider's stock valued at $454,000 after purchasing an additional 823 shares in the last quarter. FORA Capital LLC purchased a new position in shares of Public Service Enterprise Group in the first quarter valued at $5,194,000. Synovus Financial Corp purchased a new stake in shares of Public Service Enterprise Group in the first quarter worth $254,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Public Service Enterprise Group in the first quarter worth $5,400,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Trading Down 1.0%

Public Service Enterprise Group stock traded down $0.82 during midday trading on Tuesday, reaching $81.51. The stock had a trading volume of 455,458 shares, compared to its average volume of 2,864,920. 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 firm has a market cap of $40.68 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50. The company has a fifty day moving average of $84.68 and a 200 day moving average of $82.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the company posted $0.63 earnings per share. The company's quarterly revenue 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. On average, analysts anticipate 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 firm 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 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 (DPR) is presently 63.64%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group 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 transaction, the chief executive officer directly owned 218,328 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PEG shares. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. UBS Group raised 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. 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. Barclays dropped 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. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.95.

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.