Strs Ohio Invests $2.36 Million in Public Service Enterprise Group Incorporated $PEG

Strs Ohio acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 28,691 shares of the utilities provider’s stock, valued at approximately $2,361,000.

Other large investors also recently modified their holdings of the company. REAP Financial Group LLC boosted its position in shares of Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 162 shares during the period. Headlands Technologies LLC bought a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $32,000. Wealth Preservation Advisors LLC bought a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $33,000. Zions Bancorporation National Association UT bought a new position in shares of Public Service Enterprise Group in the first quarter valued at approximately $50,000. Finally, Sound Income Strategies LLC boosted its position in shares of Public Service Enterprise Group by 105.9% in the first quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 361 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Up 0.4%

Shares of NYSE PEG opened at $83.02 on Tuesday. 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 Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The firm’s fifty day moving average is $84.47 and its 200 day moving average is $82.11. The company has a market cap of $41.43 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.88 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion for 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 firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 63.64%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley cut their price objective on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, June 18th. BMO Capital Markets lifted 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 research report on Wednesday, August 6th. Barclays dropped their target price 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. 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. Finally, UBS Group lifted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $91.55.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the business’s stock in a transaction 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 transaction, the chief executive officer directly owned 218,328 shares of the company’s stock, valued at approximately $18,147,423.36. The trade was 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 the SEC website. 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.