Ransom Advisory Ltd Trims Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Ransom Advisory Ltd reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,600 shares of the utilities provider’s stock after selling 300 shares during the period. Ransom Advisory Ltd’s holdings in Public Service Enterprise Group were worth $387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. REAP Financial Group LLC raised its holdings 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 valued at $27,000 after buying an additional 162 shares during the period. Headlands Technologies LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter valued at about $33,000. Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group in the 1st quarter valued at about $50,000. Finally, Sound Income Strategies LLC grew its position in Public Service Enterprise Group by 105.9% in the 1st 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 in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $82.74 on Monday. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The company has a market cap of $41.29 billion, a PE ratio of 20.89, a P/E/G ratio of 2.88 and a beta of 0.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The business has a 50-day simple moving average of $84.45 and a 200-day simple moving average of $82.10.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group’s payout ratio is currently 63.64%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PEG shares. Barclays dropped their target price on 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. Morgan Stanley dropped their target price on 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. UBS Group lifted their target price on 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. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, BMO Capital Markets lifted their target price on 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. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $91.55.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the business’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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.