Sumitomo Mitsui Trust Group Inc. Raises Stake in Public Service Enterprise Group Incorporated $PEG

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,169,545 shares of the utilities provider’s stock after buying an additional 20,359 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Public Service Enterprise Group worth $97,610,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the second quarter valued at $25,000. Keener Financial Planning LLC purchased a new stake in Public Service Enterprise Group in the second quarter worth $27,000. Cedar Mountain Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the third quarter valued at $27,000. Finally, GoalVest Advisory LLC grew its stake in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PEG shares. Wells Fargo & Company began coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 price objective on the stock. TD Cowen lifted their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Jefferies Financial Group raised shares of 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 research report on Thursday, November 6th. Barclays upped their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.35.

Public Service Enterprise Group Trading Up 0.2%

Shares of Public Service Enterprise Group stock opened at $78.75 on Wednesday. The company’s 50-day moving average price is $80.75 and its 200-day moving average price is $82.48. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $91.25. The company has a market cap of $39.31 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.22 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the firm posted $0.90 EPS. Public Service Enterprise Group’s 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, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

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.