546,911 Shares in Public Service Enterprise Group Incorporated $PEG Acquired by Danske Bank A S

Danske Bank A S acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 546,911 shares of the utilities provider’s stock, valued at approximately $44,387,000. Danske Bank A S owned approximately 0.11% of Public Service Enterprise Group as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Simplicity Wealth LLC increased its stake in shares of Public Service Enterprise Group by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after buying an additional 129 shares during the period. Westfuller Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 7.3% during the first quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock valued at $153,000 after acquiring an additional 129 shares during the period. Key Financial Inc boosted its holdings in Public Service Enterprise Group by 2.6% in the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 133 shares during the last quarter. Benjamin Edwards Inc. boosted its holdings in Public Service Enterprise Group by 4.3% in the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after acquiring an additional 134 shares during the last quarter. Finally, CFS Investment Advisory Services LLC increased its position in Public Service Enterprise Group by 1.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock worth $1,068,000 after purchasing an additional 138 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Down 0.4%

Shares of NYSE:PEG opened at $75.31 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. Public Service Enterprise Group Incorporated has a 52 week low of $74.20 and a 52 week high of $87.63. The company has a 50 day moving average price of $78.94 and a two-hundred day moving average price of $80.48. The company has a market capitalization of $37.54 billion, a PE ratio of 18.73, a PEG ratio of 2.85 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be issued 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 presently 66.67%.

Analyst Ratings Changes

Several analysts have weighed in on PEG shares. Citigroup dropped their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. 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. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Wells Fargo & Company dropped their price target 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. Finally, Truist Financial dropped 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. One equities research 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $90.23.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents 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. Insiders have sold 17,284 shares of company stock valued at $1,332,751 in the last 90 days. 0.19% of the stock is currently owned by company 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.