Bank of Nova Scotia Purchases New Shares in Public Service Enterprise Group Incorporated $PEG

Key Points

• Bank of Nova Scotia purchased 55,998 shares of Public Service Enterprise Group worth approximately $4.55 million in the second quarter. Institutional investors now own 73.34% of PEG, with major positions also held by BlackRock, Vanguard and Bank of America.
• PEG’s latest quarterly results beat expectations on earnings, reporting $0.86 EPS versus the $0.80 consensus, although revenue fell 8.9% year over year to $2.55 billion. The company maintained fiscal 2026 EPS guidance of $4.28 to $4.40.
• The company declared a quarterly dividend of $0.67 per share, equivalent to a 3.7% annual yield. Shares recently traded at $73.29, while analysts have a consensus “Hold” rating and an average price target of $89.43.

Bank of Nova Scotia bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 55,998 shares of the utilities provider's stock, valued at approximately $4,547,000.

A number of other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $4,366,570,000. Norges Bank acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth about $552,280,000. Bank of America Corp DE grew its position in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock worth $1,476,230,000 after buying an additional 3,469,886 shares during the period. Bank of New York Mellon Corp acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $221,632,000. Finally, Vanguard Group Inc. raised its position in shares of Public Service Enterprise Group by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock valued at $5,420,155,000 after acquiring an additional 2,189,951 shares during the period. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the transaction, the chief executive officer owned 283,656 shares of the company's stock, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. 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. Insiders sold 17,284 shares of company stock valued at $1,332,751 in the last three months. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $73.29 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12 month low of $72.53 and a 12 month high of $87.63. The stock has a 50 day moving average of $78.44 and a 200-day moving average of $80.26. The company has a market capitalization of $36.53 billion, a P/E ratio of 18.23, a P/E/G ratio of 2.77 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 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm posted $0.77 EPS. Public Service Enterprise Group's 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, equities research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 annualized dividend and a yield of 3.7%. Public Service Enterprise Group's payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PEG shares. 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. Jefferies Financial Group reduced their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Weiss Ratings downgraded Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Finally, Citigroup dropped their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $89.43.

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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