Public Service Enterprise Group Incorporated $PEG Shares Sold by Clarius Group LLC

Clarius Group LLC reduced its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 26.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,795 shares of the utilities provider’s stock after selling 2,427 shares during the quarter. Clarius Group LLC’s holdings in Public Service Enterprise Group were worth $572,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PEG. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $95,076,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Public Service Enterprise Group by 20.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock worth $395,354,000 after acquiring an additional 806,782 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Public Service Enterprise Group by 476.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider’s stock worth $75,652,000 after acquiring an additional 759,873 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on PEG shares. Morgan Stanley cut their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. UBS Group raised 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. BMO Capital Markets raised 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Saturday, September 27th. Finally, Barclays cut 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 note on Thursday, July 10th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.85.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $82.02 on Monday. The business has a 50-day moving average of $83.92 and a 200 day moving average of $82.22. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The stock has a market capitalization of $40.93 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating 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 company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business posted $0.63 EPS. Public Service Enterprise Group’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. As a group, sell-side 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 company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.64%.

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.