26,027 Shares in Public Service Enterprise Group Incorporated $PEG Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 26,027 shares of the utilities provider’s stock, valued at approximately $2,112,000.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $4,366,570,000. Norges Bank bought a new stake in Public Service Enterprise Group in the fourth quarter valued at about $552,280,000. Bank of America Corp DE raised its position in Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Public Service Enterprise Group in the second quarter worth about $221,632,000. Finally, Deutsche Bank AG bought a new position in Public Service Enterprise Group during the second quarter worth about $126,383,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares of the company’s stock, valued at $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PEG shares. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Citigroup dropped their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Finally, Morgan Stanley dropped their price objective on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Hold” and a consensus price target of $89.43.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $74.09 on Thursday. The stock has a market capitalization of $36.93 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 2.76 and a beta of 0.51. The firm’s 50-day moving average price is $78.33 and its two-hundred day moving average price is $80.22. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 1-year low of $72.53 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. Public Service Enterprise Group’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.6%. Public Service Enterprise Group’s payout ratio is presently 66.67%.

About Public Service Enterprise Group

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.