Public Service Enterprise Group Incorporated $PEG Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,149 shares of the utilities provider’s stock after purchasing an additional 10,767 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Public Service Enterprise Group were worth $4,102,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PEG. Vanguard Group Inc. boosted its position in Public Service Enterprise Group by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after buying an additional 1,199,371 shares during the last quarter. State Street Corp increased its stake in shares of Public Service Enterprise Group by 0.8% in the second quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock worth $2,300,701,000 after buying an additional 206,843 shares during the last quarter. Bank of America Corp DE boosted its stake in Public Service Enterprise Group by 24.7% during 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 acquiring an additional 3,469,886 shares during the last quarter. Geode Capital Management LLC grew its holdings in Public Service Enterprise Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock worth $1,049,973,000 after acquiring an additional 110,087 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position 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 worth $674,218,000 after acquiring an additional 715,051 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays decreased their target price on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. BMO Capital Markets decreased their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $85.00 target price (down previously from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday. Finally, BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.96.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were 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 owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $78.28 on Monday. The stock has a market cap of $39.07 billion, a PE ratio of 18.82, a P/E/G ratio of 2.54 and a beta of 0.60. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The firm has a 50-day moving average of $80.21 and a 200-day moving average of $82.32.

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, beating the consensus estimate of $1.02 by $0.11. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior 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. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared 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 dividend payout ratio is 60.58%.

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.