Public Service Enterprise Group Incorporated $PEG Shares Bought by AMF Tjanstepension AB

AMF Tjanstepension AB raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 456,455 shares of the utilities provider’s stock after purchasing an additional 107,474 shares during the quarter. AMF Tjanstepension AB’s holdings in Public Service Enterprise Group were worth $36,653,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. ProShare Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 8.2% in the fourth quarter. ProShare Advisors LLC now owns 94,259 shares of the utilities provider’s stock worth $7,569,000 after acquiring an additional 7,132 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Public Service Enterprise Group by 5.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,722 shares of the utilities provider’s stock valued at $1,262,000 after purchasing an additional 778 shares during the period. Entrust Financial LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $288,000. North Dakota State Investment Board purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $1,375,000. Finally, Elyxium Wealth LLC purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $91,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the sale, the chief executive officer owned 289,315 shares of the company’s stock, valued at $23,495,271.15. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. The trade was a 14.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 10,949 shares of company stock valued at $902,747 in the last ninety days. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG stock opened at $76.75 on Tuesday. The stock has a 50-day moving average price of $80.89 and a two-hundred day moving average price of $81.29. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company has a market cap of $38.25 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last posted 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 return on equity of 12.30% and a net margin of 17.69%.The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the business earned $1.43 earnings per share. The firm’s quarterly revenue 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, 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 Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Barclays lifted their price objective on 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. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $87.50 to $84.50 in a research report on Friday, March 13th. Finally, Truist Financial lowered their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research report on Monday. 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 data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $93.19.

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.