Vanguard Personalized Indexing Management LLC Buys 13,540 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Public Service Enterprise Group by 22.6%, acquiring a total of 73,542 shares valued at approximately $6.19 million.
• Analysts have set a consensus target price of $90.95 for Public Service Enterprise Group, with six analysts recommending a "Buy" rating.
• The company recently declared a quarterly dividend of $0.63, representing a dividend yield of 3.1% with a payout ratio of 63.64%.

Vanguard Personalized Indexing Management LLC grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 22.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,542 shares of the utilities provider's stock after acquiring an additional 13,540 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Public Service Enterprise Group were worth $6,192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PEG. Vanguard Group Inc. raised 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 acquiring an additional 2,986,646 shares during the last quarter. Nuveen LLC bought a new position in shares of Public Service Enterprise Group in the first quarter worth about $95,076,000. Cbre Investment Management Listed Real Assets LLC bought a new position in shares of Public Service Enterprise Group in the first quarter worth about $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Public Service Enterprise Group by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider's stock worth $395,354,000 after buying an additional 806,782 shares during the last quarter. Finally, Reaves W H & Co. Inc. raised its stake in shares of Public Service Enterprise Group by 58.4% during the first quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider's stock worth $108,002,000 after buying an additional 483,682 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PEG shares. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Barclays dropped 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 research note on Thursday, July 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. UBS Group boosted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Finally, Evercore ISI started coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an "in-line" rating and a $83.00 price target for the company. Six equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Stock Up 1.3%

Shares of NYSE:PEG opened at $81.71 on Tuesday. 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 quick ratio of 0.76 and a current ratio of 1.00. The company has a market capitalization of $40.78 billion, a PE ratio of 20.63, a PEG ratio of 2.80 and a beta of 0.53. The company has a 50 day moving average price of $83.00 and a two-hundred day moving average price of $82.19.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its 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. The firm 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 business's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. 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 business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group's dividend 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.

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