777,398 Shares in Public Service Enterprise Group Incorporated $PEG Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 777,398 shares of the utilities provider's stock, valued at approximately $63,094,000. Canada Pension Plan Investment Board owned approximately 0.16% of Public Service Enterprise Group as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Entropy Technologies LP boosted its position in shares of Public Service Enterprise Group by 115.6% in the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider's stock valued at $1,985,000 after purchasing an additional 13,253 shares during the period. Kestra Advisory Services LLC increased its position in Public Service Enterprise Group by 26.3% during the first quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider's stock worth $5,593,000 after buying an additional 14,406 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in Public Service Enterprise Group by 120.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider's stock valued at $5,108,000 after buying an additional 34,415 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its stake in Public Service Enterprise Group by 135.2% in the first quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider's stock valued at $1,756,000 after buying an additional 12,468 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Public Service Enterprise Group by 38.0% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider's stock valued at $156,305,000 after acquiring an additional 536,363 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PEG. Truist Financial cut their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating on the stock in a report on Thursday, August 13th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Jefferies Financial Group dropped their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a research note on Monday, July 20th. Citigroup reduced 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 report on Wednesday, August 5th. Finally, Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. 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. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Hold" and an average price target of $89.43.

Insider Activity at Public Service Enterprise Group

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

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $73.29 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The company's 50-day moving average price is $78.20 and its 200 day moving average price is $80.17. Public Service Enterprise Group Incorporated has a 52 week low of $72.53 and a 52 week high of $87.63. The stock has a market cap of $36.53 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.79 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The firm's quarterly 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, research analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share 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, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group's payout ratio is currently 66.67%.

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.

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