TD Asset Management Inc Increases Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• TD Asset Management increased its stake in Public Service Enterprise Group by 3.7% in the fourth quarter, ending with 734,477 shares valued at about $59 million. Several other large institutional investors also boosted their positions, and institutions now own 73.34% of the company.
• PEG beat earnings and revenue expectations in its latest quarterly report, posting $1.55 EPS versus the $1.44 consensus and $3.85 billion in revenue versus the expected $3.35 billion. The company also raised its FY 2026 guidance to $4.28-$4.40 EPS.
• The company announced a quarterly dividend of $0.67 per share, payable June 30, which implies an annualized dividend of $2.68 and a yield of 3.4%. CEO Ralph A. Larossa also sold 2,083 shares in a pre-arranged transaction, while analysts currently rate the stock a “Moderate Buy” with an average price target of $93.19.

TD Asset Management Inc boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 734,477 shares of the utilities provider's stock after purchasing an additional 26,113 shares during the period. TD Asset Management Inc owned about 0.15% of Public Service Enterprise Group worth $58,979,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PEG. Norges Bank purchased a new position in Public Service Enterprise Group during the 4th quarter valued at about $552,280,000. Bank of America Corp DE increased its holdings in 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 valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the period. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 3.4% during 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 purchasing an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA increased its holdings in Public Service Enterprise Group by 174.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider's stock valued at $225,704,000 after purchasing an additional 1,788,449 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider's stock valued at $674,218,000 after purchasing an additional 715,051 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $79.48 on Friday. The stock's 50 day simple moving average is $79.80 and its two-hundred day simple moving average is $80.97. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.94 and a beta of 0.51. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business's revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group's payout ratio is currently 59.29%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the sale, the chief executive officer directly owned 287,232 shares of the company's stock, valued at $22,119,736.32. The trade was a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,249 shares of company stock valued at $498,795. Insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

PEG has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Scotiabank reaffirmed a "sector perform" rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Jefferies Financial Group cut Public Service Enterprise Group from a "buy" rating to a "hold" rating and cut their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $93.19.

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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