Robeco Institutional Asset Management B.V. Boosts Holdings in Public Service Enterprise Group Incorporated $PEG

Robeco Institutional Asset Management B.V. boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 218.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,083 shares of the utilities provider’s stock after acquiring an additional 91,946 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Public Service Enterprise Group were worth $11,191,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Public Service Enterprise Group by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock worth $5,468,421,000 after purchasing an additional 1,199,371 shares during the period. State Street Corp increased its position in Public Service Enterprise Group by 0.8% in the second quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock worth $2,300,701,000 after buying an additional 206,843 shares during the last quarter. Bank of America Corp DE raised 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 during the period. Geode Capital Management LLC lifted its position in shares of Public Service Enterprise Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after buying an additional 110,087 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Public Service Enterprise Group by 9.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after acquiring an additional 715,051 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent research reports. UBS Group dropped their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Barclays upped their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $89.00 to $90.00 in a research note on Thursday, November 6th. Morgan Stanley dropped their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Finally, BMO Capital Markets reduced their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $91.35.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Up 1.6%

Shares of NYSE:PEG opened at $78.67 on Friday. The firm has a fifty day moving average price of $80.87 and a two-hundred day moving average price of $82.55. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25. The company has a market cap of $39.27 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.18 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis 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 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.