Public Service Enterprise Group Incorporated $PEG Stock Holdings Raised by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

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 stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 20.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,803,810 shares of the utilities provider's stock after buying an additional 806,782 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.96% of Public Service Enterprise Group worth $395,354,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of 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 worth $5,247,586,000 after buying an additional 2,986,646 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Public Service Enterprise Group by 2.3% in the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock worth $600,317,000 after purchasing an additional 162,261 shares during the period. Raymond James Financial Inc. boosted its holdings in Public Service Enterprise Group by 5.2% in the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock worth $385,439,000 after purchasing an additional 230,636 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Public Service Enterprise Group by 1.0% in 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 purchasing an additional 31,631 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Public Service Enterprise Group by 12.5% in the fourth quarter. Royal Bank of Canada now owns 2,756,790 shares of the utilities provider's stock worth $232,921,000 after purchasing an additional 306,972 shares during the period. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling

In other Public Service Enterprise Group 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 transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Up 0.6%

Shares of NYSE:PEG traded up $0.47 during midday trading on Monday, hitting $83.16. 545,169 shares of the company's stock traded hands, compared to its average volume of 2,847,717. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The company has a market cap of $41.50 billion, a PE ratio of 20.99, a P/E/G ratio of 2.88 and a beta of 0.50. The firm's fifty day moving average price is $84.45 and its two-hundred day moving average price is $82.10. 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 posted 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 business had revenue of $2.81 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous 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 research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. Public Service Enterprise Group's payout ratio is currently 63.64%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of research reports. Morgan Stanley decreased 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 report on Wednesday, June 18th. UBS Group boosted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Barclays reduced their price target 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, BMO Capital Markets boosted 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 report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $91.55.

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.