Yousif Capital Management LLC Raises Stock Position in Public Service Enterprise Group Incorporated $PEG

Yousif Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 13.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,945 shares of the utilities provider's stock after purchasing an additional 9,197 shares during the period. Yousif Capital Management LLC's holdings in Public Service Enterprise Group were worth $6,561,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Keener Financial Planning LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $27,000. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $32,000. Marshall & Sullivan Inc. WA purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $33,000. Wealth Preservation Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $33,000. Finally, Costello Asset Management INC increased its stake in shares of Public Service Enterprise Group by 290.6% during the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider's stock worth $45,000 after purchasing an additional 401 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 0.8%

Shares of PEG opened at $82.42 on Wednesday. The firm has a market cap of $41.14 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.53. The company's fifty day moving average is $82.88 and its two-hundred day moving average is $82.19. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group's revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS. 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 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 63.64%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PEG shares. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. BMO Capital Markets raised 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 research report on Wednesday, August 6th. Finally, UBS Group raised 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 research report on Friday, July 25th. Six research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average 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.

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