North Dakota State Investment Board Makes New Investment in Public Service Enterprise Group Incorporated $PEG

North Dakota State Investment Board bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, Holdings Channel reports. The firm bought 17,126 shares of the utilities provider’s stock, valued at approximately $1,375,000.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in shares of Public Service Enterprise Group by 24.7% in 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 buying an additional 3,469,886 shares during the period. Vanguard Group Inc. grew its holdings in shares of Public Service Enterprise Group by 3.4% in 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 buying an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA grew its holdings in shares of Public Service Enterprise Group by 174.9% in 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 buying an additional 1,788,449 shares during the period. Ameriprise Financial Inc. grew its holdings in shares of Public Service Enterprise Group by 9.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after buying an additional 715,051 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Public Service Enterprise Group by 43.2% in the 3rd quarter. Van ECK Associates Corp now owns 1,934,129 shares of the utilities provider’s stock valued at $161,423,000 after buying an additional 583,773 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the sale, the chief executive officer directly owned 289,315 shares in the company, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 10,949 shares of company stock worth $902,747. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

PEG has been the subject of several research analyst reports. Scotiabank reissued a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a report on Thursday, March 5th. Barclays boosted their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Jefferies Financial Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.19.

Public Service Enterprise Group Trading Up 0.8%

Shares of NYSE:PEG opened at $77.44 on Wednesday. The company’s 50-day moving average price is $80.77 and its two-hundred day moving average price is $81.27. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The stock has a market capitalization of $38.59 billion, a PE ratio of 17.13, a price-to-earnings-growth ratio of 2.90 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

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.