UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 806,782 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• UBS Asset Management increased its stake in Public Service Enterprise Group (PEG) by 20.2% during the first quarter, now owning approximately 4.8 million shares valued at $395.35 million.
• Multiple research analysts have varied ratings on PEG, with Wall Street Zen upgrading it to "hold" and BMO Capital Markets raising its price target to $89, reflecting a consensus rating of "Moderate Buy."
• Public Service Enterprise Group recently declared a quarterly dividend of $0.63, representing an annual yield of 3.1% and a payout ratio of 63.64%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 20.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 4,803,810 shares of the utilities provider's stock after purchasing an additional 806,782 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.96% of Public Service Enterprise Group worth $395,354,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC lifted its position in Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at approximately $50,000. Finally, Sound Income Strategies LLC raised its position in shares of Public Service Enterprise Group by 105.9% in the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock valued at $58,000 after buying an additional 361 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded up $0.71 during trading on Friday, hitting $82.74. 1,703,010 shares of the company were exchanged, compared to its average volume of 2,608,096. The business's 50 day moving average is $84.45 and its 200-day moving average is $82.09. The company has a market capitalization of $41.29 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 2.85 and a beta of 0.50. 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 1-year low of $74.67 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) 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%. The company's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current 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 paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. Public Service Enterprise Group's payout ratio is currently 63.64%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the business'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 owned 218,328 shares of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research 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 research report on Saturday, September 6th. Barclays lowered 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 report on Thursday, July 10th. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Finally, UBS Group boosted 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 report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $90.95.

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.