Public Service Enterprise Group Incorporated $PEG Shares Bought by Swiss National Bank

Swiss National Bank boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,509,200 shares of the utilities provider’s stock after buying an additional 104,100 shares during the quarter. Swiss National Bank’s holdings in Public Service Enterprise Group were worth $127,044,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of 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 acquiring an additional 2,986,646 shares during the last quarter. Nuveen LLC bought a new stake in Public Service Enterprise Group during the first quarter valued at $95,076,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of Public Service Enterprise Group during the first quarter worth $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 buying an additional 806,782 shares during the last quarter. Finally, Reaves W H & Co. Inc. boosted its holdings in shares of Public Service Enterprise Group by 58.4% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,312,292 shares of the utilities provider’s stock valued at $108,002,000 after buying an additional 483,682 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PEG. BMO Capital Markets lowered their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. BTIG Research initiated coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target on the stock. Barclays boosted their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Public Service Enterprise Group in a research note on Wednesday. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $81.25 on Friday. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $95.22. The stock’s fifty day moving average is $82.19 and its 200-day moving average is $82.48. 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 firm has a market capitalization of $40.56 billion, a price-to-earnings ratio of 20.52, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 60.58%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.