Public Service Enterprise Group Incorporated (NYSE:PEG) Shares purchased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

VaselineSeptember 27, 2024

0 5 minutes read

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 60.5% in the second quarter, HoldingsChannel.com reports. The firm owned 95,488 shares of the utilities provider’s stock after purchasing an additional 35,993 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Public Service Enterprise Group were worth $7,037,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Gilbert & Cook Inc. raised its stake in Public Service Enterprise Group by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 7,327 shares of the utilities provider’s stock worth $448,000 after purchasing an additional 373 shares during the period. US Bancorp DE boosted its holdings in shares of Public Service Enterprise Group by 17.1% during the 4th quarter. US Bancorp DE now owns 57,068 shares of the utilities provider’s stock valued at $3,490,000 after acquiring an additional 8,321 shares of shares in the last quarter. TD Asset Management Inc increased its position in Public Service Enterprise Group by 16.6% during the 4th quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock worth $23,047,000 after buying another 53,577 shares during that period. Stifel Financial Corp boosted its position in Public Service Enterprise Group by 1.4% during the 4th quarter. Stifel Financial Corp now owns 149,711 shares of the utilities provider’s stock worth $9,155,000 after buying an additional 2,055 shares during that period. Finally, Legacy Advisors LLC increased its holdings in Public Service Enterprise Group by 5.8% in the 4th quarter. Legacy Advisors LLC now owns 5,571 shares of the utilities provider’s stock valued at $341,000 after buying another 305 shares in the last quarter. 73.34% of the shares are currently held by hedge funds and other institutional investors.

Price performance of the group of public service enterprises

Shares of NYSE PEG opened at $87.40 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.46, and a debt-to-equity ratio of 1.16. The company has a market cap of $43.53 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 3.20 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $53.71 and a 12-month high of $88.86. The company has a 50-day simple moving average of $80.49 and a 200-day simple moving average of $74.09.

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Public Service Enterprise Group (NYSE:PEG – Get Free Report ) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. In the same quarter last year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up 0.1% on a year-over-year basis. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 9. This represents an annualized dividend of $2.40 and a dividend yield of 2.75%. Public Service Enterprise Group’s dividend payout ratio is currently 66.48%.

Analysts set new price targets

Several equities research analysts recently weighed in on the company. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Royal Bank of Canada boosted their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Finally, UBS Group upped their target price on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $81.46, according to MarketBeat data.

See the latest stock report on PEG

Insider buying and selling

In other news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The sale was disclosed in a legal filing with the SEC, which is accessible via this link. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the transaction, the executive vice president now directly owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock worth $2,406,965 over the last quarter. Company insiders own 0.57% of the company’s shares.

Public Service Enterprise Group Company Profile

(Free Report)

Public Service Enterprise Group Incorporated, through its subsidiaries, operates electric and gas utility businesses in the United States. It operates through the PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial and industrial customers; and appliance service and repair to customers through its service territory, as well as investments in solar generation projects, energy efficiency and related programs.