Twin Tree Management LP Purchases 96,730 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Twin Tree Management LP increased its stake in Public Service Enterprise Group by 429.5% during the first quarter, accumulating 119,251 shares valued at approximately $9.81 million.
• Public Service Enterprise Group reported earnings of $0.77 per share for the last quarter, exceeding estimates of $0.70, with revenues reaching $2.81 billion.
• The company declared a quarterly dividend of $0.63 per share, resulting in an annualized yield of 3.1%, scheduled for payment on September 30th.

Twin Tree Management LP raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 429.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 119,251 shares of the utilities provider's stock after purchasing an additional 96,730 shares during the period. Twin Tree Management LP's holdings in Public Service Enterprise Group were worth $9,814,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Public Service Enterprise Group by 4.9% in the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Public Service Enterprise Group by 2.3% during the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock worth $600,317,000 after acquiring an additional 162,261 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Public Service Enterprise Group by 5.2% during the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock worth $385,439,000 after acquiring an additional 230,636 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Public Service Enterprise Group by 15.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider's stock worth $337,709,000 after acquiring an additional 542,671 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Public Service Enterprise Group by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider's stock worth $251,979,000 after acquiring an additional 31,631 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded up $0.37 during mid-day trading on Thursday, reaching $81.72. 1,689,561 shares of the company were exchanged, compared to its average volume of 2,860,976. The company's 50-day simple moving average is $84.63 and its 200-day simple moving average is $82.24. 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 stock has a market capitalization of $40.78 billion, a P/E ratio of 20.64, a P/E/G ratio of 2.86 and a beta of 0.50. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $2.81 billion during the quarter, compared to analysts' expectations 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 revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is presently 63.64%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company's 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 directly owned 218,328 shares of the company's stock, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. UBS Group increased their target price 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. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Sunday, July 20th. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. BMO Capital Markets increased 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 report on Wednesday, August 6th. Finally, Barclays reduced their target price 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. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus 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.