Nordea Investment Management AB Has $145.97 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Nordea Investment Management AB decreased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,762,293 shares of the utilities provider’s stock after selling 77,863 shares during the period. Nordea Investment Management AB owned approximately 0.35% of Public Service Enterprise Group worth $145,971,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Public Service Enterprise Group by 4.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,808 shares of the utilities provider’s stock worth $1,319,000 after buying an additional 670 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Public Service Enterprise Group by 1.8% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,169,545 shares of the utilities provider’s stock valued at $97,610,000 after buying an additional 20,359 shares during the last quarter. First Horizon Corp acquired a new stake in Public Service Enterprise Group during the 3rd quarter valued at approximately $14,231,000. MGO One Seven LLC increased its position in shares of Public Service Enterprise Group by 287.5% during the third quarter. MGO One Seven LLC now owns 28,633 shares of the utilities provider’s stock worth $2,390,000 after buying an additional 21,243 shares during the period. Finally, Citizens Financial Group Inc. RI raised its position in shares of Public Service Enterprise Group by 10.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 13,076 shares of the utilities provider’s stock worth $1,091,000 after acquiring an additional 1,244 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $78.75 on Wednesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The stock has a market capitalization of $39.31 billion, a PE ratio of 18.93, a P/E/G ratio of 2.22 and a beta of 0.60. The company’s 50 day simple moving average is $80.75 and its two-hundred day simple moving average is $82.48.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts predict 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Insider Transactions at Public Service Enterprise Group

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

Analyst Ratings Changes

PEG has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of 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. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price for the company. Wells Fargo & Company started coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target for the company. Finally, Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $91.35.

Public Service Enterprise Group 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.