Korea Investment CORP Acquires 19,424 Shares of Public Service Enterprise Group Incorporated $PEG

Korea Investment CORP increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 9.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 225,900 shares of the utilities provider’s stock after purchasing an additional 19,424 shares during the quarter. Korea Investment CORP’s holdings in Public Service Enterprise Group were worth $18,854,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $564,238,000. Bank of America Corp DE grew its stake in shares of Public Service Enterprise Group by 24.7% in the second 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 buying an additional 3,469,886 shares in the last quarter. Invesco Ltd. increased its holdings in Public Service Enterprise Group by 27.8% during the second quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock worth $544,973,000 after buying an additional 1,408,707 shares during the last quarter. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 1.9% during the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock worth $5,468,421,000 after buying an additional 1,199,371 shares during the last quarter. Finally, Railway Pension Investments Ltd raised its position in Public Service Enterprise Group by 97.5% during the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after acquiring an additional 937,100 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $83.28 on Wednesday. The firm has a market cap of $41.53 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 2.74 and a beta of 0.60. The business’s 50 day moving average is $81.94 and its 200-day moving average is $81.78. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the company posted $0.84 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.72%.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the completion of the sale, the chief executive officer directly owned 292,889 shares of the company’s stock, valued at $24,503,093.74. This represents a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PEG. UBS Group cut their price target on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a research report on Thursday, March 5th. Barclays upped their price objective on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Scotiabank restated a “sector perform” rating and set a $92.00 target price on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

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.