Bollard Group LLC Acquires 35,385 Shares of Public Service Enterprise Group Incorporated $PEG

Bollard Group LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 386,847 shares of the utilities provider’s stock after purchasing an additional 35,385 shares during the period. Public Service Enterprise Group accounts for about 0.7% of Bollard Group LLC’s portfolio, making the stock its 17th biggest position. Bollard Group LLC owned 0.08% of Public Service Enterprise Group worth $32,565,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PEG. Norges Bank bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $564,238,000. Invesco Ltd. increased its stake in shares of Public Service Enterprise Group by 27.8% in the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after acquiring an additional 1,408,707 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Public Service Enterprise Group by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after acquiring an additional 1,199,371 shares during the period. Nuveen LLC bought a new position in Public Service Enterprise Group during the first quarter worth $95,076,000. Finally, Cbre Investment Management Listed Real Assets LLC acquired a new stake in Public Service Enterprise Group in the first quarter worth $68,317,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $79.63 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.62. 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 $82.21 and a 200-day moving average price of $82.69. The company has a market cap of $39.75 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 2.43 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.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 company posted $0.90 earnings per share. 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 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a $0.63 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

Analyst Ratings Changes

PEG has been the topic of several research reports. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective on the stock. Morgan Stanley dropped their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. TD Cowen raised their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Barclays upped their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $91.19.

Insider Buying and Selling at Public Service Enterprise Group

In related 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 transaction of $405,063.60. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Public Service Enterprise Group 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.