Canada Post Corp Registered Pension Plan Trims Stock Position in Public Service Enterprise Group Incorporated $PEG

Canada Post Corp Registered Pension Plan lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 47.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 10,069 shares of the utilities provider’s stock after selling 9,247 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Public Service Enterprise Group were worth $809,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB increased its stake in shares of 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. increased its stake in shares of Public Service Enterprise Group by 4.6% in the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock valued at $74,609,000 after purchasing an additional 38,949 shares in the last quarter. Greenland Capital Management LP increased its stake 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 purchasing an additional 49,157 shares in the last quarter. PNC Financial Services Group Inc. increased its stake 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 purchasing an additional 252,718 shares in the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock valued at $26,262,000 after purchasing an additional 36,100 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of several recent analyst reports. Truist Financial cut their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research note on Monday. Evercore upgraded 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 research note on Thursday, March 5th. Scotiabank restated a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Finally, JPMorgan Chase & Co. lifted their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the transaction, the chief executive officer directly owned 289,315 shares in the company, valued at $23,495,271.15. The trade was a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the transaction, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. This represents a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 10,949 shares of company stock worth $902,747. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 0.4%

PEG stock opened at $76.75 on Tuesday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The stock has a market cap of $38.25 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 2.88 and a beta of 0.53. The business’s 50-day moving average is $80.89 and its 200 day moving average is $81.29.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. The business had revenue of $3.85 billion for 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business 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 dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 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.