Danske Bank A S purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) during the 2nd quarter, Holdings Channel reports. The firm purchased 546,911 shares of the utilities provider’s stock, valued at approximately $44,387,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Entropy Technologies LP boosted its position in Public Service Enterprise Group by 115.6% during the fourth quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock valued at $1,985,000 after purchasing an additional 13,253 shares during the last quarter. Kestra Advisory Services LLC increased its position in shares of Public Service Enterprise Group by 26.3% during the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock worth $5,593,000 after purchasing an additional 14,406 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Public Service Enterprise Group by 120.0% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock worth $5,108,000 after purchasing an additional 34,415 shares in the last quarter. Elevation Point Wealth Partners LLC raised its stake in shares of Public Service Enterprise Group by 135.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock worth $1,756,000 after purchasing an additional 12,468 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in shares of Public Service Enterprise Group by 38.0% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock valued at $156,305,000 after buying an additional 536,363 shares during the last quarter. 73.34% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts recently weighed in on PEG shares. Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. Truist Financial cut their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.23.
Public Service Enterprise Group Stock Performance
Shares of NYSE PEG opened at $75.31 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $37.54 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.85 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $74.20 and a 12 month high of $87.63. The stock has a 50 day moving average of $78.94 and a 200-day moving average of $80.48.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.
Public Service Enterprise Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.67%.
Insider Buying and Selling
In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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 the company’s stock in a transaction dated Wednesday, June 24th. The shares were 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. This trade represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 17,284 shares of company stock valued at $1,332,751. Company insiders own 0.19% of the company’s stock.
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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