TD Asset Management Inc Buys 26,113 Shares of Public Service Enterprise Group Incorporated $PEG

TD Asset Management Inc lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 734,477 shares of the utilities provider’s stock after purchasing an additional 26,113 shares during the quarter. TD Asset Management Inc’s holdings in Public Service Enterprise Group were worth $58,979,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Lido Advisors LLC boosted its position in shares of Public Service Enterprise Group by 4.0% in the 4th quarter. Lido Advisors LLC now owns 26,352 shares of the utilities provider’s stock worth $2,158,000 after purchasing an additional 1,017 shares in the last quarter. Sound Shore Management Inc. CT boosted its position in shares of Public Service Enterprise Group by 66.6% in the 4th quarter. Sound Shore Management Inc. CT now owns 1,361,981 shares of the utilities provider’s stock worth $109,367,000 after purchasing an additional 544,634 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Public Service Enterprise Group by 20.6% in the 4th quarter. CIBC Asset Management Inc now owns 276,464 shares of the utilities provider’s stock worth $22,200,000 after purchasing an additional 47,178 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Public Service Enterprise Group by 5.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,994,372 shares of the utilities provider’s stock worth $401,048,000 after purchasing an additional 241,058 shares in the last quarter. Finally, Westpac Banking Corp bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $1,471,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PEG has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.19.

Public Service Enterprise Group Stock Performance

PEG stock opened at $79.48 on Friday. The stock has a market capitalization of $39.61 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 2.94 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock’s 50 day simple moving average is $79.80 and its 200 day simple moving average is $80.97.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,249 shares of company stock worth $498,795. 0.19% of the stock is currently owned by 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.