Rakuten Investment Management Inc. Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Rakuten Investment Management Inc. purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 22,194 shares of the utilities provider’s stock, valued at approximately $1,852,000.

Other large investors also recently made changes to their positions in the company. JARISLOWSKY FRASER Ltd lifted its stake in 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 purchasing an additional 530,248 shares during the last quarter. Railway Pension Investments Ltd raised its stake in Public Service Enterprise Group by 97.5% in the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock valued at $158,390,000 after buying an additional 937,100 shares during the period. Voya Investment Management LLC raised its stake in Public Service Enterprise Group by 18.2% in the third quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock valued at $137,155,000 after buying an additional 253,810 shares during the period. Vanguard Personalized Indexing Management LLC lifted 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 buying an additional 13,540 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $564,238,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $78.28 on Friday. 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 stock has a market capitalization of $39.07 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 2.58 and a beta of 0.60. 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 50-day simple moving average of $80.21 and a two-hundred day simple moving average of $82.31.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the firm earned $0.90 earnings per share. The business’s revenue for the quarter 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. Analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

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 $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.2%. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price target for the company from $89.00 to $90.00 in a report on Thursday, November 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday. Barclays cut their target price on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday. Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. Finally, UBS Group cut their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

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.