USS Investment Management Ltd Reduces 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 lessened its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 47.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,033 shares of the utilities provider's stock after selling 40,100 shares during the quarter. USS Investment Management Ltd's holdings in Public Service Enterprise Group were worth $3,706,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. UniSuper Management Pty Ltd lifted its holdings in shares of Public Service Enterprise Group by 2.9% in the 1st quarter. UniSuper Management Pty Ltd now owns 43,236 shares of the utilities provider's stock worth $3,558,000 after acquiring an additional 1,200 shares during the last quarter. Raab & Moskowitz Asset Management LLC lifted its holdings in shares of Public Service Enterprise Group by 1.8% in the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 23,408 shares of the utilities provider's stock worth $1,927,000 after acquiring an additional 409 shares during the last quarter. Resolution Capital Ltd lifted its holdings in shares of Public Service Enterprise Group by 14.0% in the 1st quarter. Resolution Capital Ltd now owns 61,908 shares of the utilities provider's stock worth $5,095,000 after acquiring an additional 7,604 shares during the last quarter. New England Asset Management Inc. lifted its holdings in shares of Public Service Enterprise Group by 0.9% in the 1st quarter. New England Asset Management Inc. now owns 76,233 shares of the utilities provider's stock worth $6,274,000 after acquiring an additional 680 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in Public Service Enterprise Group by 1.3% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 61,228 shares of the utilities provider's stock valued at $5,039,000 after buying an additional 771 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Up 0.9%

Shares of NYSE:PEG traded up $0.71 during trading hours on Friday, hitting $82.74. The company's stock had a trading volume of 1,703,010 shares, compared to its average volume of 2,547,135. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The company has a market capitalization of $41.29 billion, a price-to-earnings ratio of 20.89, 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 200 day moving average price is $82.10.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The company's quarterly revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction that occurred 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 of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEG. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. BMO Capital Markets lifted their price objective 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. Barclays decreased 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 report on Thursday, July 10th. UBS Group lifted 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 report on Friday, July 25th. Finally, Morgan Stanley reduced their price target 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. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $91.55.

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.