Voleon Capital Management LP acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 15,865 shares of the utilities provider's stock, valued at approximately $1,306,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 2.3% during the 1st quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock valued at $600,317,000 after purchasing an additional 162,261 shares in the last quarter. Raymond James Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 5.2% during the 1st quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock valued at $385,439,000 after purchasing an additional 230,636 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Public Service Enterprise Group by 15.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,997,028 shares of the utilities provider's stock valued at $337,709,000 after purchasing an additional 542,671 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Public Service Enterprise Group by 1.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider's stock valued at $251,979,000 after acquiring an additional 31,631 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.
Public Service Enterprise Group Stock Performance
Shares of PEG traded up $0.71 during mid-day trading on Friday, hitting $82.74. 1,703,010 shares of the company traded hands, compared to its average volume of 2,547,135. 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 stock has a 50-day moving average price of $84.45 and a two-hundred day moving average price of $82.10. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The stock has a market cap 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.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data 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. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The firm's quarterly revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.
Public Service Enterprise Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's payout ratio is 63.64%.
Wall Street Analyst Weigh In
PEG has been the subject of a number of recent research reports. Barclays lowered 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 report on Thursday, July 10th. Morgan Stanley decreased their target price 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 lifted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 25th. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Finally, 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. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $91.55.
Get Our Latest Stock Analysis on PEG
Insider Transactions at Public Service Enterprise Group
In related news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company's stock.
About Public Service Enterprise Group
(
Free Report)
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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