Louisiana State Employees Retirement System purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) in the 1st quarter, HoldingsChannel.com reports. The firm purchased 25,400 shares of the utilities provider’s stock, valued at approximately $2,056,000.
A number of other hedge funds also recently modified their holdings of PEG. Kestra Private Wealth Services LLC grew its holdings in Public Service Enterprise Group by 1.3% during the first quarter. Kestra Private Wealth Services LLC now owns 43,062 shares of the utilities provider’s stock valued at $3,486,000 after purchasing an additional 567 shares during the period. Hilton Head Capital Partners LLC raised its stake in shares of Public Service Enterprise Group by 3.0% in the first quarter. Hilton Head Capital Partners LLC now owns 7,685 shares of the utilities provider’s stock valued at $622,000 after buying an additional 221 shares during the period. RFG Advisory LLC raised its stake in shares of Public Service Enterprise Group by 8.2% in the first quarter. RFG Advisory LLC now owns 2,978 shares of the utilities provider’s stock valued at $241,000 after buying an additional 226 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in shares of Public Service Enterprise Group by 9.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,390 shares of the utilities provider’s stock valued at $436,000 after buying an additional 454 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new position in shares of Public Service Enterprise Group during the 1st quarter valued at $3,963,000. Institutional investors own 73.34% of the company’s stock.
Insider Buying and Selling at Public Service Enterprise Group
In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Monday, June 1st. The shares were 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 in the company, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The sale was disclosed in a document filed 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. Also, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% 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. In the last ninety days, insiders have sold 7,201 shares of company stock worth $578,442. 0.19% of the stock is owned by insiders.
Public Service Enterprise Group Stock Performance
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the business earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was 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 (DPR) is currently 59.29%.
Analyst Ratings Changes
PEG has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. 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. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. Jefferies Financial Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Finally, Barclays raised their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.19.
Read Our Latest Stock Analysis on Public Service Enterprise Group
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.
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