Universal Beteiligungs und Servicegesellschaft mbH Acquires 17,882 Shares of Public Service Enterprise Group Incorporated $PEG

Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 353,258 shares of the utilities provider’s stock after buying an additional 17,882 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned 0.07% of Public Service Enterprise Group worth $29,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Empowered Funds LLC lifted its stake in Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares in the last quarter. Woodline Partners LP grew its position in shares of Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after purchasing an additional 12,172 shares in the last quarter. Sowell Financial Services LLC increased its holdings in shares of Public Service Enterprise Group by 21.2% in the second quarter. Sowell Financial Services LLC now owns 4,391 shares of the utilities provider’s stock worth $370,000 after purchasing an additional 769 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Public Service Enterprise Group by 8.0% in the second quarter. GAMMA Investing LLC now owns 7,698 shares of the utilities provider’s stock worth $648,000 after buying an additional 567 shares in the last quarter. Finally, Accurate Wealth Management LLC lifted its position in shares of Public Service Enterprise Group by 3.5% in the second quarter. Accurate Wealth Management LLC now owns 6,164 shares of the utilities provider’s stock worth $506,000 after buying an additional 210 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of a number of research reports. TD Cowen lifted their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. BTIG Research started coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price objective for the company. Finally, BMO Capital Markets decreased their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $90.96.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 0.6%

Shares of NYSE:PEG opened at $79.28 on Friday. The firm has a market capitalization of $39.57 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.59 and a beta of 0.60. The business has a 50 day simple moving average of $80.30 and a two-hundred day simple moving average of $82.33. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company earned $0.90 EPS. Public Service Enterprise Group’s quarterly revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.