Danske Bank A S Purchases New Position in Public Service Enterprise Group Incorporated $PEG

Danske Bank A S purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the third quarter, HoldingsChannel reports. The fund purchased 457,128 shares of the utilities provider’s stock, valued at approximately $38,152,000.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. HM Payson & Co. boosted its position in Public Service Enterprise Group by 3.3% during the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after acquiring an additional 120 shares in the last quarter. Rossby Financial LCC raised its position in shares of Public Service Enterprise Group by 5.5% in the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after acquiring an additional 121 shares in the last quarter. Colonial Trust Co SC raised its position in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 121 shares in the last quarter. JPL Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after purchasing an additional 122 shares during the period. Finally, Transcend Capital Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 2.6% in the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after purchasing an additional 125 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 0.6%

Shares of NYSE PEG opened at $84.22 on Thursday. The firm’s 50 day moving average price is $82.44 and its 200-day moving average price is $81.83. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The company has a market cap of $42.00 billion, a PE ratio of 19.96, a P/E/G ratio of 2.76 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a $0.67 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 63.51%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PEG. UBS Group reduced their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. JPMorgan Chase & Co. upped their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $92.88.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the transaction, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the sale, the chief executive officer directly owned 292,889 shares in the company, valued at $24,503,093.74. This trade represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by insiders.

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.