Nykredit A S Invests $15.74 Million in Public Service Enterprise Group Incorporated $PEG

Key Points

• Nykredit A/S acquired 193,975 shares of Public Service Enterprise Group, valued at approximately $15.74 million. Institutional investors collectively own 73.34% of PEG.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $89.23, despite several firms maintaining “Buy” or “Overweight” ratings.
• PEG reported quarterly EPS of $0.86, beating estimates, but revenue fell 8.9% year over year. The company declared a quarterly dividend of $0.67 per share, equivalent to a 3.8% annualized yield.

Nykredit A S purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 193,975 shares of the utilities provider's stock, valued at approximately $15,743,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $4,366,570,000. Bank of America Corp DE bought a new position in Public Service Enterprise Group during the second quarter valued at $1,207,400,000. Geode Capital Management LLC increased its position in Public Service Enterprise Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider's stock worth $1,021,475,000 after buying an additional 114,351 shares during the last quarter. Norges Bank purchased a new stake in Public Service Enterprise Group in the fourth quarter worth $552,280,000. Finally, Legal & General Group Plc bought a new stake in shares of Public Service Enterprise Group in the second quarter valued at $554,994,000. Institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PEG shares. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 price objective on the stock. Truist Financial dropped their price objective 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. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Jefferies Financial Group reduced their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating for the company in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and a consensus price target of $89.23.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 8,000 shares of the business'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 completion of the sale, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the sale, the chief executive officer owned 283,656 shares of the company's stock, valued at $21,691,174.32. The trade was a 0.73% 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. In the last three months, insiders sold 15,201 shares of company stock worth $1,172,339. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Down 1.7%

Shares of Public Service Enterprise Group stock opened at $69.77 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group Incorporated has a 1 year low of $69.72 and a 1 year high of $87.63. The firm has a market cap of $34.78 billion, a PE ratio of 17.36, a PEG ratio of 2.63 and a beta of 0.50. The company has a 50 day simple moving average of $75.34 and a two-hundred day simple moving average of $78.77.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating 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 firm had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter last year, the company posted $0.77 EPS. The business's quarterly revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.8%. Public Service Enterprise Group's payout ratio is 66.67%.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated NYSE: PEG is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.

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