USS Investment Management Ltd Has $3.71 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• USS Investment Management Ltd reduced its holdings in Public Service Enterprise Group (PEG) by 47.1%, now owning 45,033 shares worth approximately $3.71 million.
• Public Service Enterprise Group reported a $0.77 EPS for the quarter, exceeding analyst estimates of $0.70, with revenues of $2.81 billion—a 15.8% increase compared to last year.
• The company will pay a quarterly dividend of $0.63 on September 30, representing an annualized yield of 3.1% and a payout ratio of 63.64%.

USS Investment Management Ltd trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 47.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,033 shares of the utilities provider's stock after selling 40,100 shares during the period. USS Investment Management Ltd's holdings in Public Service Enterprise Group were worth $3,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC increased its holdings in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $33,000. Zions Bancorporation National Association UT acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at $50,000. Finally, Sound Income Strategies LLC increased its stake in shares of 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 valued at $58,000 after buying an additional 361 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Morgan Stanley lowered their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. UBS Group lifted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Finally, Barclays lowered their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $90.95.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was 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 in the company, 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 at the SEC website. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Up 0.9%

PEG stock traded up $0.71 during midday trading on Friday, hitting $82.74. 1,609,010 shares of the company's stock were exchanged, compared to its average volume of 2,861,110. The stock's fifty day moving average price is $84.43 and its 200-day moving average price is $82.10. 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 $41.29 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.84 and a beta of 0.50. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year 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, topping the consensus estimate of $0.70 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts predict 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.

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.