USS Investment Management Ltd Has $6.40 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

USS Investment Management Ltd increased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 79,627 shares of the utilities provider’s stock after purchasing an additional 10,591 shares during the period. USS Investment Management Ltd’s holdings in Public Service Enterprise Group were worth $6,395,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PEG. Norges Bank acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $552,280,000. Bank of America Corp DE raised its stake 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 buying an additional 3,469,886 shares during the period. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA raised its stake in Public Service Enterprise Group by 174.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after buying an additional 1,788,449 shares during the period. Finally, Van ECK Associates Corp raised its stake in Public Service Enterprise Group by 40.0% during the 4th quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock worth $217,483,000 after buying an additional 774,256 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on PEG. Barclays boosted their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wells Fargo & Company boosted their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $80.17 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a 50 day moving average price of $79.53 and a two-hundred day moving average price of $80.84. The firm has a market capitalization of $39.95 billion, a P/E ratio of 17.74, a P/E/G ratio of 3.00 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.Public Service Enterprise Group’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm 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 $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,249 shares of company stock valued at $498,795 over the last three months. Corporate insiders own 0.19% of the company’s stock.

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.