USS Investment Management Ltd Has $3.71 Million Holdings in Public Service Enterprise Group Incorporated $PEG

USS Investment Management Ltd cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 47.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,033 shares of the utilities provider’s stock after selling 40,100 shares during the quarter. USS Investment Management Ltd’s holdings in Public Service Enterprise Group were worth $3,706,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its stake in Public Service Enterprise Group by 6.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider’s stock valued at $3,922,000 after buying an additional 2,803 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $298,000. Exchange Traded Concepts LLC raised its position in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider’s stock worth $327,000 after purchasing an additional 447 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider’s stock worth $7,417,000 after purchasing an additional 3,601 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $329,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PEG. Barclays lowered their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Morgan Stanley lowered their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday. 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 report on Wednesday, August 6th. Finally, 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 report on Friday, July 25th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.95.

Public Service Enterprise Group Trading Down 1.2%

NYSE PEG opened at $80.12 on Tuesday. The firm has a market capitalization of $39.98 billion, a P/E ratio of 20.23, a PEG ratio of 2.82 and a beta of 0.50. The business has a fifty day simple moving average of $84.47 and a 200 day simple moving average of $82.13. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly 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. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 63.64%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

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.