Rakuten Investment Management Inc. Invests $6.72 Million in Public Service Enterprise Group Incorporated $PEG

Rakuten Investment Management Inc. bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 81,530 shares of the utilities provider’s stock, valued at approximately $6,721,000.

A number of other large investors also recently bought and sold shares of PEG. Entropy Technologies LP lifted its holdings in Public Service Enterprise Group by 115.6% during the fourth quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock valued at $1,985,000 after purchasing an additional 13,253 shares in the last quarter. Kestra Advisory Services LLC grew its position in shares of Public Service Enterprise Group by 26.3% in the first quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock valued at $5,593,000 after purchasing an additional 14,406 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Public Service Enterprise Group by 120.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock worth $5,108,000 after purchasing an additional 34,415 shares in the last quarter. Elevation Point Wealth Partners LLC increased its stake in shares of Public Service Enterprise Group by 135.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock worth $1,756,000 after purchasing an additional 12,468 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in shares of Public Service Enterprise Group by 38.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock worth $156,305,000 after purchasing an additional 536,363 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Citigroup decreased their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $89.43.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the transaction, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,284 shares of company stock valued at $1,332,751 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4%

Shares of NYSE:PEG opened at $73.07 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $72.53 and a 52-week high of $87.63. The stock has a market cap of $36.42 billion, a P/E ratio of 18.18, a PEG ratio of 2.76 and a beta of 0.51. The business has a fifty day moving average of $78.06 and a two-hundred day moving average of $80.12. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.67%.

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.