Elo Mutual Pension Insurance Co Purchases 7,192 Shares of Public Service Enterprise Group Incorporated $PEG

Elo Mutual Pension Insurance Co grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 18.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,540 shares of the utilities provider’s stock after purchasing an additional 7,192 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Public Service Enterprise Group were worth $3,801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $564,238,000. Bank of America Corp DE raised its position in Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Invesco Ltd. lifted its holdings in Public Service Enterprise Group by 27.8% during the 2nd 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 period. Vanguard Group Inc. grew its position 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 valued at $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 shares of 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 during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.8%

NYSE:PEG opened at $83.85 on Wednesday. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $41.82 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 2.76 and a beta of 0.60. The firm has a fifty day simple moving average of $81.64 and a two-hundred day simple moving average of $81.80.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

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

Wall Street Analyst Weigh In

PEG has been the subject of a number of recent analyst reports. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a research report on Wednesday, January 7th. TD Cowen increased their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Barclays dropped their target price on shares of Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating on the stock in a report on Thursday, January 22nd. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price target for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.12.

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.