Voleon Capital Management LP Acquires New Shares in Public Service Enterprise Group Incorporated $PEG

Key Points

• Voleon Capital Management LP acquired 15,865 shares of Public Service Enterprise Group, valued at approximately $1.3 million, during the 1st quarter, indicating growing interest from institutional investors in the utilities provider.
• Public Service Enterprise Group reported a 15.8% year-over-year increase in revenue for its latest quarter, achieving earnings per share of $0.77, which surpassed analysts' expectations.
• The company plans to distribute a quarterly dividend of $0.63 on September 30th, with a yield of 3.1%, reflecting a sustainable dividend payout ratio of 63.64%.

Voleon Capital Management LP acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 15,865 shares of the utilities provider's stock, valued at approximately $1,306,000.

Several other institutional investors have also modified their holdings of the stock. Centre Asset Management LLC lifted its position in shares of Public Service Enterprise Group by 3.2% during the 1st quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock worth $324,000 after buying an additional 121 shares during the last quarter. FourThought Financial Partners LLC lifted its position in shares of Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock worth $378,000 after buying an additional 127 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider's stock worth $3,523,000 after buying an additional 130 shares during the last quarter. Summit Financial LLC lifted its position in shares of Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider's stock worth $507,000 after buying an additional 133 shares during the last quarter. Finally, Apella Capital LLC lifted its position in shares of Public Service Enterprise Group by 2.7% during the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider's stock worth $443,000 after buying an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 1.2%

PEG opened at $80.12 on Tuesday. The firm has a 50 day moving average price of $84.47 and a 200 day moving average price of $82.13. The company has a market cap of $39.98 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.82 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year 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.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 company's revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 annualized dividend and a yield of 3.1%. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the 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 completion of the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

PEG has been the topic of a number of recent research reports. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday. UBS Group upped 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. Barclays lowered their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. Finally, BMO Capital Markets upped their target price 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. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.

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