Tobam Increases Position in Public Service Enterprise Group Incorporated $PEG

Tobam lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 49,584.2% in the 4th quarter, HoldingsChannel reports. The fund owned 9,440 shares of the utilities provider’s stock after purchasing an additional 9,421 shares during the quarter. Tobam’s holdings in Public Service Enterprise Group were worth $758,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group during the second quarter valued at about $25,000. Quest 10 Wealth Builders Inc. raised its holdings in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares in the last quarter. Motiv8 Investments LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth about $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at about $44,000. Finally, TFC Financial Management Inc. lifted its position in shares of Public Service Enterprise Group by 3,000.0% during the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock valued at $47,000 after buying an additional 570 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. BMO Capital Markets increased their target price 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. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Thursday, March 5th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, Wells Fargo & Company upped their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.19.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $79.88 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The company has a market cap of $39.80 billion, a PE ratio of 17.67, a P/E/G ratio of 3.01 and a beta of 0.51. The business has a 50-day simple moving average of $79.39 and a two-hundred day simple moving average of $80.76. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the transaction, the chief executive officer owned 287,232 shares in the company, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 6,249 shares of company stock worth $498,795. Corporate 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.