QRG Capital Management Inc. Has $2.57 Million Stake in Public Service Enterprise Group Incorporated $PEG

QRG Capital Management Inc. reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 34.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,819 shares of the utilities provider’s stock after selling 16,501 shares during the quarter. QRG Capital Management Inc.’s holdings in Public Service Enterprise Group were worth $2,572,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in PEG. JARISLOWSKY FRASER Ltd raised its stake in shares of Public Service Enterprise Group by 107.1% in 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 in the last quarter. Railway Pension Investments Ltd raised its holdings in Public Service Enterprise Group by 97.5% in the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after acquiring an additional 937,100 shares during the period. Voya Investment Management LLC lifted its position in Public Service Enterprise Group by 18.2% during the 3rd quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock worth $137,155,000 after acquiring an additional 253,810 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Public Service Enterprise Group by 22.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after purchasing an additional 13,540 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $564,238,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $79.39 on Tuesday. The firm has a market cap of $39.63 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.24 and a beta of 0.60. The firm’s 50-day simple moving average is $80.52 and its 200-day simple moving average is $82.39. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month 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.

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 for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed 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 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%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PEG shares. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective for the company in a research report on Wednesday, January 7th. TD Cowen increased their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. BTIG Research began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Wells Fargo & Company began coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $91.35.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were 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 represents a 15.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.