CIBC Asset Management Inc Boosts Holdings in Public Service Enterprise Group Incorporated $PEG

CIBC Asset Management Inc raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 20.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 276,464 shares of the utilities provider’s stock after buying an additional 47,178 shares during the quarter. CIBC Asset Management Inc’s holdings in Public Service Enterprise Group were worth $22,200,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in Public Service Enterprise Group by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock valued at $182,759,000 after purchasing an additional 504,632 shares in the last quarter. Assetmark Inc. raised its stake in shares of Public Service Enterprise Group by 4.6% during the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after buying an additional 38,949 shares in the last quarter. Greenland Capital Management LP lifted its holdings in shares of Public Service Enterprise Group by 238.9% in the 3rd quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider’s stock valued at $5,820,000 after buying an additional 49,157 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 38.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider’s stock valued at $75,572,000 after buying an additional 252,718 shares during the period. Finally, Pensionfund Sabic purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $1,301,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $78.09 on Friday. The stock has a fifty day moving average price of $79.83 and a 200 day moving average price of $80.98. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a market cap of $38.91 billion, a PE ratio of 17.28, a P/E/G ratio of 2.93 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the business posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer owned 287,232 shares in the company, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,249 shares of company stock worth $498,795. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PEG. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Scotiabank reiterated 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. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock 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 issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.19.

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.