Twin Tree Management LP Boosts Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Twin Tree Management LP increased its holdings in Public Service Enterprise Group (PEG) by 3.7% in Q2, owning 123,713 shares valued at approximately $10.4 million.
• The company reported Q2 earnings of $0.77 per share, surpassing expectations, with revenue rising 15.8% year-over-year to $2.81 billion.
• Public Service Enterprise Group recently declared a quarterly dividend of $0.63 per share, yielding 3.0%, with a payout ratio of 63.64%.

Twin Tree Management LP lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,713 shares of the utilities provider's stock after buying an additional 4,462 shares during the quarter. Twin Tree Management LP's holdings in Public Service Enterprise Group were worth $10,414,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of Public Service Enterprise Group by 4.1% during the 1st quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider's stock valued at $587,000 after purchasing an additional 279 shares in the last quarter. SG Americas Securities LLC boosted its stake in Public Service Enterprise Group by 15.8% during the first quarter. SG Americas Securities LLC now owns 11,848 shares of the utilities provider's stock valued at $975,000 after buying an additional 1,618 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after buying an additional 3,601 shares in the last quarter. Sound Income Strategies LLC increased its stake 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 worth $58,000 after acquiring an additional 361 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Public Service Enterprise Group by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock valued at $327,000 after acquiring an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Barclays lowered their price objective on shares of 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. BMO Capital Markets upped their target price on shares of 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, Evercore ISI assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an "in-line" rating and a $83.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Stock Up 2.7%

Shares of NYSE:PEG opened at $84.66 on Thursday. The stock has a market capitalization of $42.25 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 2.53 and a beta of 0.53. The stock's 50-day moving average price is $82.86 and its 200-day moving average price is $82.21. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month 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, beating the consensus estimate of $0.70 by $0.07. The company 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%.Public Service Enterprise Group's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 63.64%.

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.

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