Korea Investment CORP Invests $24.86 Million in Public Service Enterprise Group Incorporated $PEG

Korea Investment CORP purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 306,326 shares of the utilities provider’s stock, valued at approximately $24,861,000. Korea Investment CORP owned about 0.06% of Public Service Enterprise Group as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. EP Wealth Advisors LLC purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $770,000. Ieq Capital LLC purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $4,430,000. Sterling Financial Planning Inc. purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $269,000. Callan Family Office LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $1,646,000. Finally, Expressive Wealth LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $283,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the 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 directly owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 17,284 shares of company stock worth $1,332,751. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEG. Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Truist Financial dropped their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 13th. Finally, Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $89.43.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $72.71 on Monday. Public Service Enterprise Group Incorporated has a one year low of $72.60 and a one year high of $87.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The stock has a market cap of $36.24 billion, a PE ratio of 18.09, a P/E/G ratio of 2.73 and a beta of 0.51. The stock has a 50 day moving average price of $78.72 and a 200 day moving average price of $80.37.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors 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 dividend on an annualized basis and a dividend yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio is currently 66.67%.

Public Service Enterprise Group 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.