Asset Management One Co. Ltd. Has $25.07 Million Holdings in Public Service Enterprise Group Incorporated $PEG

Asset Management One Co. Ltd. cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,373 shares of the utilities provider’s stock after selling 19,134 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of Public Service Enterprise Group worth $25,069,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. JARISLOWSKY FRASER Ltd raised its position in shares of Public Service Enterprise Group by 107.1% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock valued at $85,572,000 after acquiring an additional 530,248 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Public Service Enterprise Group by 22.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock worth $6,192,000 after purchasing an additional 13,540 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Public Service Enterprise Group by 18.2% during the third quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock worth $137,155,000 after purchasing an additional 253,810 shares during the period. Norges Bank bought a new stake in Public Service Enterprise Group in the second quarter valued at about $564,238,000. Finally, Janney Montgomery Scott LLC lifted its stake in Public Service Enterprise Group by 2.5% in the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock valued at $5,812,000 after buying an additional 1,652 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEG has been the subject of several analyst reports. Barclays boosted 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. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. JPMorgan Chase & Co. lowered their target price on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. BMO Capital Markets reduced their price target on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Finally, TD Cowen boosted their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.96.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the sale, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 2.0%

Public Service Enterprise Group stock opened at $79.41 on Tuesday. The company has a 50 day moving average of $81.08 and a 200-day moving average of $82.68. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The stock has a market capitalization of $39.64 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 2.28 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed 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. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

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.