Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,077 shares of the utilities provider’s stock, valued at approximately $568,000.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 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 valued at $5,420,155,000 after purchasing an additional 2,189,951 shares in the last quarter. State Street Corp increased its holdings in shares of Public Service Enterprise Group by 1.0% during the 3rd quarter. State Street Corp now owns 27,598,607 shares of the utilities provider’s stock valued at $2,303,380,000 after purchasing an additional 267,871 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Public Service Enterprise Group by 1.4% during the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after purchasing an additional 236,794 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Public Service Enterprise Group by 8.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock valued at $722,546,000 after purchasing an additional 648,140 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Public Service Enterprise Group by 6.2% during the 3rd quarter. Capital Research Global Investors now owns 8,132,936 shares of the utilities provider’s stock valued at $678,775,000 after purchasing an additional 477,387 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the sale, the chief executive officer directly owned 289,315 shares in the company, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 10,949 shares of company stock worth $902,747 in the last three months. 0.19% of the stock is owned by corporate insiders.
Public Service Enterprise Group Price Performance
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the company earned $1.43 EPS. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts anticipate 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on PEG. Truist Financial cut their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a report on Monday, May 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Wells Fargo & Company lifted their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Jefferies Financial Group cut shares of 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 note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.19.
View Our Latest Stock Report on Public Service Enterprise Group
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.
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