Caisse de depot et placement du Quebec Takes $109.03 Million Position in Public Service Enterprise Group Incorporated $PEG

Caisse de depot et placement du Quebec bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,343,350 shares of the utilities provider’s stock, valued at approximately $109,026,000. Caisse de depot et placement du Quebec owned approximately 0.27% of Public Service Enterprise Group at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Public Service Enterprise Group during the second quarter valued at $4,366,570,000. State Street Corp grew its position in shares of Public Service Enterprise Group by 2.8% in the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after purchasing an additional 762,591 shares during the period. Bank of America Corp DE increased its stake in shares of Public Service Enterprise Group by 24.7% during the second 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Public Service Enterprise Group by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after purchasing an additional 114,351 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after purchasing an additional 715,051 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PEG shares. Citigroup lowered their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. Morgan Stanley lowered their price target on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Finally, Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and an average target price of $89.43.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, August 3rd. The stock was 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 directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,284 shares of company stock worth $1,332,751 over the last quarter. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $74.09 on Thursday. The firm has a 50 day simple moving average of $78.33 and a 200-day simple moving average of $80.22. Public Service Enterprise Group Incorporated has a 1-year low of $72.53 and a 1-year high of $87.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The stock has a market cap of $36.93 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51.

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

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. Public Service Enterprise Group’s payout ratio is currently 66.67%.

Public Service Enterprise Group Company 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.