Mufg Securities Americas Inc. Boosts Stock Position in Public Service Enterprise Group Incorporated $PEG

Mufg Securities Americas Inc. raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 25.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,059 shares of the utilities provider’s stock after purchasing an additional 2,240 shares during the quarter. Mufg Securities Americas Inc.’s holdings in Public Service Enterprise Group were worth $931,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its holdings in Public Service Enterprise Group by 22.6% during the second 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 in the last quarter. Janney Montgomery Scott LLC increased its position in Public Service Enterprise Group by 2.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after purchasing an additional 1,652 shares during the period. Chemistry Wealth Management LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $579,000. Intech Investment Management LLC raised its stake in shares of Public Service Enterprise Group by 69.6% during the 1st quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock worth $1,918,000 after buying an additional 9,563 shares in the last quarter. Finally, Integrity Alliance LLC. acquired a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at approximately $775,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PEG. Evercore ISI initiated coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective on the stock. TD Cowen increased 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. Weiss Ratings reiterated a “buy (b-)” rating on shares of Public Service Enterprise Group in a research note on Wednesday. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, BTIG Research assumed 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 price target for the company. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.19.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’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 completion of the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $81.25 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. The stock has a market cap of $40.56 billion, a P/E ratio of 20.52, a PEG ratio of 2.46 and a beta of 0.55. The company has a 50-day moving average of $82.19 and a two-hundred day moving average of $82.50. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company’s quarterly 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. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.