Goldman Sachs Group Inc. grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 5.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,994,372 shares of the utilities provider’s stock after buying an additional 241,058 shares during the period. Goldman Sachs Group Inc.’s holdings in Public Service Enterprise Group were worth $401,048,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Empowered Funds LLC boosted its position in Public Service Enterprise Group by 10.3% during the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares during the period. Woodline Partners LP boosted its position in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after purchasing an additional 12,172 shares during the period. Cresset Asset Management LLC boosted its position in Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after purchasing an additional 1,040 shares during the period. Jump Financial LLC boosted its position in shares of Public Service Enterprise Group by 70.4% in the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock valued at $1,070,000 after acquiring an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Public Service Enterprise Group by 3.0% in the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock valued at $4,785,000 after acquiring an additional 1,649 shares during the period. Institutional investors own 73.34% of the company’s stock.
Wall Street Analysts Forecast Growth
PEG has been the subject of a number of analyst reports. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company 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. Scotiabank restated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Barclays raised their price objective on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $93.19.
Public Service Enterprise Group Trading Up 0.4%
Shares of Public Service Enterprise Group stock opened at $78.09 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The firm has a market cap of $38.91 billion, a PE ratio of 17.28, a PEG ratio of 2.93 and a beta of 0.51. The company has a 50 day simple moving average of $79.83 and a two-hundred day simple moving average of $80.98.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate 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 posted $1.43 EPS. The business’s quarterly revenue was up 19.4% on a year-over-year basis. 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 4.37 earnings per share for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The company also recently announced 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. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.
Insider Buying and Selling
In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction 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 transaction, the chief executive officer 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 Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,249 shares of company stock valued at $498,795 over the last quarter. 0.19% of the stock is owned by corporate insiders.
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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