JARISLOWSKY FRASER Ltd Purchases 530,248 Shares of Public Service Enterprise Group Incorporated $PEG

JARISLOWSKY FRASER Ltd grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 107.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,025,305 shares of the utilities provider’s stock after buying an additional 530,248 shares during the quarter. JARISLOWSKY FRASER Ltd owned 0.21% of Public Service Enterprise Group worth $85,572,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Baird Financial Group Inc. increased its stake in Public Service Enterprise Group by 4.0% in the first quarter. Baird Financial Group Inc. now owns 34,898 shares of the utilities provider’s stock worth $2,872,000 after purchasing an additional 1,345 shares during the period. EP Wealth Advisors LLC lifted its holdings in Public Service Enterprise Group by 35.8% during the 1st quarter. EP Wealth Advisors LLC now owns 4,652 shares of the utilities provider’s stock valued at $383,000 after buying an additional 1,226 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its position in Public Service Enterprise Group by 4.8% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 29,983 shares of the utilities provider’s stock valued at $2,468,000 after buying an additional 1,360 shares during the period. Aprio Wealth Management LLC bought a new position in Public Service Enterprise Group in the 1st quarter worth about $218,000. Finally, Advisors Asset Management Inc. grew its stake in Public Service Enterprise Group by 7.7% in the 1st quarter. Advisors Asset Management Inc. now owns 10,183 shares of the utilities provider’s stock worth $838,000 after acquiring an additional 726 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $89.00 to $90.00 in a report on Thursday, November 6th. JPMorgan Chase & Co. reduced their target price on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, December 12th. UBS Group reduced their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Evercore ISI assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price on the stock. Finally, Barclays raised their price objective on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $80.99 on Friday. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The stock has a market capitalization of $40.43 billion, a PE ratio of 19.47, a P/E/G ratio of 2.26 and a beta of 0.60. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The firm has a 50 day moving average of $81.17 and a two-hundred day moving average of $82.68.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the company earned $0.90 EPS. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s payout ratio is presently 60.58%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by company insiders.

About Public Service Enterprise Group

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.