Mitsubishi UFJ Asset Management Co. Ltd. Invests $99.26 Million in Public Service Enterprise Group Incorporated $PEG

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,223,066 shares of the utilities provider’s stock, valued at approximately $99,264,000.

Other hedge funds also recently bought and sold shares of the company. Simplicity Wealth LLC raised its position in Public Service Enterprise Group by 3.3% during the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 129 shares during the last quarter. Westfuller Advisors LLC grew its position in shares of Public Service Enterprise Group by 7.3% in the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock worth $153,000 after buying an additional 129 shares during the last quarter. Key Financial Inc increased its stake in shares of Public Service Enterprise Group by 2.6% during the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after buying an additional 133 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Public Service Enterprise Group by 4.3% during the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after buying an additional 134 shares during the period. Finally, CFS Investment Advisory Services LLC raised its holdings in shares of Public Service Enterprise Group by 1.0% during the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock valued at $1,068,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $75.70 on Wednesday. The business has a fifty day moving average price of $79.01 and a 200-day moving average price of $80.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The company has a market capitalization of $37.73 billion, a PE ratio of 18.83, a PEG ratio of 2.86 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1-year low of $74.20 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business posted $0.77 EPS. Public Service Enterprise Group’s revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.5%. Public Service Enterprise Group’s payout ratio is 66.67%.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 17,284 shares of company stock worth $1,332,751. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday. Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Citigroup dropped their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $90.23.

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.