Van Lanschot Kempen Investment Management N.V. Purchases 18,237 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Van Lanschot Kempen Investment Management N.V. increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 322,847 shares of the utilities provider's stock after purchasing an additional 18,237 shares during the period. Van Lanschot Kempen Investment Management N.V. owned approximately 0.06% of Public Service Enterprise Group worth $26,570,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Transce3nd LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $25,000. REAP Financial Group LLC boosted its stake in shares of 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 worth $27,000 after purchasing an additional 162 shares during the period. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth about $32,000. Finally, Optiver Holding B.V. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $50,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Up 0.4%

Shares of NYSE:PEG traded up $0.3440 during trading hours on Friday, hitting $83.6340. The company's stock had a trading volume of 3,117,018 shares, compared to its average volume of 2,499,858. 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 $41.74 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.90 and a beta of 0.45. The firm's fifty day moving average price is $84.59 and its 200 day moving average price is $82.32.

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 Announces Dividend

The firm 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. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of recent analyst reports. Evercore ISI dropped their price target on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an "outperform" rating for the company in a research note on Thursday, May 1st. Guggenheim lowered their price objective on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Wall Street Zen cut shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. BMO Capital Markets boosted 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 research report on Wednesday, August 6th. Finally, 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. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price 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.