Railway Pension Investments Ltd Purchases 937,100 Shares of Public Service Enterprise Group Incorporated $PEG

Railway Pension Investments Ltd raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 97.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,897,800 shares of the utilities provider’s stock after purchasing an additional 937,100 shares during the quarter. Public Service Enterprise Group accounts for approximately 2.1% of Railway Pension Investments Ltd’s holdings, making the stock its 20th largest holding. Railway Pension Investments Ltd owned 0.38% of Public Service Enterprise Group worth $158,390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new stake in shares of Public Service Enterprise Group in the second quarter worth $27,000. GoalVest Advisory LLC boosted its holdings in Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares during the last quarter. Finally, Marshall & Sullivan Inc. WA acquired a new position in Public Service Enterprise Group during the second quarter worth $33,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following 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 Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PEG shares. JPMorgan Chase & Co. cut their price target on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research report on Friday, December 12th. Barclays lifted their target price 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. BMO Capital Markets reduced their price target on 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. Evercore ISI initiated coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. Finally, TD Cowen boosted their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group Trading Up 0.9%

Shares of NYSE:PEG opened at $80.99 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The company has a market capitalization of $40.43 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 2.28 and a beta of 0.60. The company has a 50-day simple moving average of $81.17 and a 200 day simple moving average of $82.70.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company earned $0.90 earnings per share. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a dividend of $0.63 per share. The ex-dividend date of this dividend was 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%.

Public Service Enterprise Group Company 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.