AG2R LA Mondiale Gestion D Actifs Makes New Investment in Public Service Enterprise Group Incorporated $PEG

AG2R LA Mondiale Gestion D Actifs acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,749 shares of the utilities provider’s stock, valued at approximately $1,762,000.

Other hedge funds have also bought and sold shares of the company. REAP Financial Group LLC boosted its position in Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT acquired a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $50,000. Finally, Sound Income Strategies LLC raised its stake in shares of Public Service Enterprise Group by 105.9% during the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after buying an additional 361 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.9%

Shares of NYSE:PEG opened at $82.74 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The business has a fifty day moving average of $84.45 and a two-hundred day moving average of $82.09. The stock has a market cap of $41.29 billion, a P/E ratio of 20.89, a PEG ratio of 2.85 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, research 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a $0.63 dividend. 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 dividend payout ratio is presently 63.64%.

Analyst Ratings Changes

PEG has been the subject of several research analyst reports. UBS Group upped their target price on 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. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. BMO Capital Markets upped their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 6th. Barclays reduced their price objective on 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. Finally, Morgan Stanley reduced their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, June 18th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.55.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was 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 of the company’s stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.