Public Service Enterprise Group Incorporated $PEG Holdings Lifted by Bank of Nova Scotia

Bank of Nova Scotia raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 61.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,834 shares of the utilities provider’s stock after acquiring an additional 51,678 shares during the quarter. Bank of Nova Scotia’s holdings in Public Service Enterprise Group were worth $10,996,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PEG. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. increased its stake in shares of Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the last quarter. Bayban acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth $33,000. Motiv8 Investments LLC bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Public Service Enterprise Group during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.0%

PEG stock opened at $79.83 on Monday. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve month high of $91.25. The company has a market cap of $39.78 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 3.00 and a beta of 0.51. The business’s 50-day simple moving average is $79.74 and its 200 day simple moving average is $80.84. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.Public Service Enterprise Group’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the transaction, the chief executive officer directly owned 285,149 shares in the company, valued at $22,957,345.99. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. This trade represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,284 shares of company stock worth $746,145 over the last quarter. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, April 13th. Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price for the company. Truist Financial upped their target price on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Finally, Jefferies Financial Group decreased their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.25.

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.