Public Service Enterprise Group Incorporated $PEG Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,840,156 shares of the utilities provider’s stock after purchasing an additional 27,871 shares during the period. Nordea Investment Management AB’s holdings in Public Service Enterprise Group were worth $154,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in PEG. Massachusetts Wealth Management raised its position in shares of Public Service Enterprise Group by 2.5% during the 2nd quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock valued at $431,000 after buying an additional 125 shares during the period. Apollon Wealth Management LLC raised its position in shares of Public Service Enterprise Group by 0.8% during the 2nd quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock valued at $1,315,000 after buying an additional 126 shares during the period. FourThought Financial Partners LLC raised its position in shares of Public Service Enterprise Group by 2.8% during the 1st quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock valued at $378,000 after buying an additional 127 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Public Service Enterprise Group by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock valued at $3,523,000 after buying an additional 130 shares during the period. Finally, Summit Financial LLC raised its position in shares of Public Service Enterprise Group by 2.2% during the 1st quarter. Summit Financial LLC now owns 6,166 shares of the utilities provider’s stock valued at $507,000 after buying an additional 133 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 0.5%

Shares of NYSE PEG opened at $84.77 on Friday. The firm has a market cap of $42.30 billion, a price-to-earnings ratio of 21.41, a PEG ratio of 2.58 and a beta of 0.53. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22. The business’s 50 day moving average is $82.74 and its two-hundred day moving average is $82.23.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group’s dividend payout ratio is currently 63.64%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PEG shares. TD Cowen started coverage on shares of Public Service Enterprise Group in a research report on Thursday. They set a “buy” rating and a $93.00 price target on the stock. Barclays reduced their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. UBS Group lifted their price target on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Finally, BMO Capital Markets boosted their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.14.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through 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 services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.