Nordea Investment Management AB Grows Stock Position in Public Service Enterprise Group Incorporated $PEG

Nordea Investment Management AB raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,840,156 shares of the utilities provider’s stock after buying an additional 27,871 shares during the period. Nordea Investment Management AB owned about 0.37% of Public Service Enterprise Group worth $154,076,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Keener Financial Planning LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $27,000. Headlands Technologies LLC purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at about $33,000. Marshall & Sullivan Inc. WA acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $33,000. Finally, Costello Asset Management INC grew its position in shares of Public Service Enterprise Group by 290.6% during the 2nd quarter. Costello Asset Management INC now owns 539 shares of the utilities provider’s stock valued at $45,000 after acquiring an additional 401 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PEG shares. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. TD Cowen started coverage on Public Service Enterprise Group in a research report on Thursday. They set a “buy” rating and a $93.00 target price on the stock. Barclays dropped 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. UBS Group raised 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. Finally, Morgan Stanley dropped their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $91.14.

Public Service Enterprise Group Trading Up 0.5%

PEG stock opened at $84.77 on Friday. 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 Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The stock has a market cap of $42.30 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.58 and a beta of 0.53. The business’s 50-day moving average is $82.74 and its 200 day moving average is $82.23.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the firm posted $0.63 EPS. Public Service Enterprise Group’s revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Public Service Enterprise Group Company 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.