Resona Asset Management Co. Ltd. Reduces Holdings in Public Service Enterprise Group Incorporated $PEG

Resona Asset Management Co. Ltd. lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 4.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,004 shares of the utilities provider’s stock after selling 7,677 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Public Service Enterprise Group were worth $14,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in PEG. UniSuper Management Pty Ltd increased its stake in Public Service Enterprise Group by 17.1% during the third quarter. UniSuper Management Pty Ltd now owns 49,795 shares of the utilities provider’s stock worth $4,156,000 after acquiring an additional 7,261 shares during the last quarter. Westfuller Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $150,000. iA Global Asset Management Inc. purchased a new position in shares of Public Service Enterprise Group during the 3rd quarter worth $2,662,000. Triad Wealth Partners LLC increased its position in shares of Public Service Enterprise Group by 6.2% during the 3rd quarter. Triad Wealth Partners LLC now owns 5,528 shares of the utilities provider’s stock worth $461,000 after purchasing an additional 321 shares during the last quarter. Finally, Bailard Inc. raised its holdings in Public Service Enterprise Group by 29.5% in the 3rd quarter. Bailard Inc. now owns 21,456 shares of the utilities provider’s stock valued at $1,791,000 after buying an additional 4,890 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PEG shares. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a research report on Wednesday, January 7th. BMO Capital Markets decreased their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. 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 report on Wednesday, December 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Finally, Barclays lowered their price target on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $90.96.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $78.28 on Monday. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The company has a fifty day simple moving average of $80.21 and a two-hundred day simple moving average of $82.32. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The company has a market cap of $39.07 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 2.54 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities analysts anticipate 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 paid a $0.63 dividend. This represents a $2.52 annualized dividend 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 presently 60.58%.

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.