Public Service Enterprise Group Incorporated $PEG Shares Purchased by Ausbil Investment Management Ltd

Ausbil Investment Management Ltd grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,784 shares of the utilities provider’s stock after acquiring an additional 15,215 shares during the quarter. Public Service Enterprise Group comprises 3.5% of Ausbil Investment Management Ltd’s holdings, making the stock its 9th largest position. Ausbil Investment Management Ltd’s holdings in Public Service Enterprise Group were worth $6,586,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC grew its holdings 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 period. Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $564,238,000. Janney Montgomery Scott LLC raised its stake in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock valued at $5,812,000 after acquiring an additional 1,652 shares during the period. Magellan Asset Management Ltd lifted its holdings in shares of Public Service Enterprise Group by 9.8% in the 2nd quarter. Magellan Asset Management Ltd now owns 354,187 shares of the utilities provider’s stock worth $29,815,000 after acquiring an additional 31,486 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $61,174,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the sale, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on PEG. Evercore ISI began coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price on the stock. Barclays boosted their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday. JPMorgan Chase & Co. cut their price target on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. Finally, 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 price target on the stock. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $80.67 on Friday. The business has a 50-day simple moving average of $81.76 and a 200-day simple moving average of $82.70. 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 Incorporated has a one year low of $74.67 and a one year high of $91.25. The company has a market cap of $40.27 billion, a PE ratio of 19.39, a P/E/G ratio of 2.44 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The firm’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. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced 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 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 payout ratio is presently 60.58%.

Public Service Enterprise Group 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.