Mirae Asset Global Investments Co. Ltd. Buys 17,842 Shares of Public Service Enterprise Group Incorporated $PEG

Mirae Asset Global Investments Co. Ltd. grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.1% in the 4th quarter, Holdings Channel reports. The firm owned 81,360 shares of the utilities provider’s stock after purchasing an additional 17,842 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Public Service Enterprise Group were worth $6,533,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PEG. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 2nd quarter worth $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $38,000. CGC Financial Services LLC boosted its position in shares of Public Service Enterprise Group by 98.5% during the third quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 258 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $43,000. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PEG. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Scotiabank restated a “sector perform” rating and set a $92.00 price target on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target on the stock in a research report on Thursday, March 5th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $87.50 to $84.50 in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.42.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $80.69 on Tuesday. Public Service Enterprise Group Incorporated has a one year low of $76.00 and a one year high of $91.25. The company’s 50-day moving average is $83.18 and its 200 day moving average is $81.78. The company has a market capitalization of $40.24 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 2.65 and a beta of 0.58. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the firm posted $0.84 EPS. Public Service Enterprise Group’s revenue for the quarter was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th were given a dividend of $0.67 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $2.68 annualized dividend and a yield of 3.3%. Public Service Enterprise Group’s payout ratio is currently 63.51%.

Insider Activity

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $81.24, for a total transaction of $169,222.92. Following the sale, the chief executive officer directly owned 291,398 shares of the company’s stock, valued at approximately $23,673,173.52. This represents a 0.71% decrease in their position. The sale 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 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 8,866 shares of company stock worth $733,587 over the last three months. 0.19% of the stock is currently owned by insiders.

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.