Public Service Enterprise Group Incorporated $PEG Shares Sold by Hamlin Capital Management LLC

Hamlin Capital Management LLC lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,287,165 shares of the utilities provider’s stock after selling 86,175 shares during the quarter. Public Service Enterprise Group accounts for 4.4% of Hamlin Capital Management LLC’s portfolio, making the stock its 7th largest position. Hamlin Capital Management LLC’s holdings in Public Service Enterprise Group were worth $183,659,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth about $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $38,000. Finally, CGC Financial Services LLC raised its position in Public Service Enterprise Group by 98.5% during the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock worth $43,000 after buying an additional 258 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 3.9%

Public Service Enterprise Group stock opened at $79.53 on Friday. The firm has a market cap of $39.66 billion, a PE ratio of 18.84, a P/E/G ratio of 2.58 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25. The stock’s 50 day simple moving average is $82.56 and its two-hundred day simple moving average is $81.82. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28.

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

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is currently 63.51%.

Analyst Upgrades and Downgrades

Several analysts have commented on PEG shares. JPMorgan Chase & Co. lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. UBS Group reduced their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $87.50 to $84.50 in a report on Friday, March 13th. Finally, Argus raised Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.88.

Insider Transactions at Public Service Enterprise Group

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

Public Service Enterprise Group Company 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.