UniSuper Management Pty Ltd Raises Stock Holdings in Public Service Enterprise Group Incorporated $PEG

UniSuper Management Pty Ltd raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,795 shares of the utilities provider’s stock after purchasing an additional 7,261 shares during the period. UniSuper Management Pty Ltd’s holdings in Public Service Enterprise Group were worth $4,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC raised its stake in shares of Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after acquiring an additional 940 shares in the last quarter. Woodline Partners LP boosted its stake in Public Service Enterprise Group by 40.7% in the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after acquiring an additional 12,172 shares in the last quarter. Ballentine Partners LLC grew its holdings in Public Service Enterprise Group by 15.3% in the second quarter. Ballentine Partners LLC now owns 3,406 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 452 shares during the last quarter. Perigon Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 2.9% during the second quarter. Perigon Wealth Management LLC now owns 7,683 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 218 shares in the last quarter. Finally, CX Institutional lifted its holdings in shares of Public Service Enterprise Group by 18.7% during the 2nd quarter. CX Institutional now owns 3,297 shares of the utilities provider’s stock valued at $278,000 after purchasing an additional 520 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. TD Cowen boosted their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $85.00 price target (down previously from $88.00) on shares of Public Service Enterprise Group in a research note on Thursday. UBS Group decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Finally, Wells Fargo & Company upgraded shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $88.00 to $92.00 in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Trading Down 1.4%

Shares of NYSE:PEG opened at $78.28 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The stock has a market cap of $39.07 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.54 and a beta of 0.60. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $80.21 and a 200-day moving average price of $82.32.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.