Cullen Investment Group LTD. Reduces Position in Public Service Enterprise Group Incorporated $PEG

Cullen Investment Group LTD. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 48.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,567 shares of the utilities provider’s stock after selling 34,455 shares during the quarter. Cullen Investment Group LTD.’s holdings in Public Service Enterprise Group were worth $2,876,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Public Service Enterprise Group during the second quarter worth about $564,238,000. Bank of America Corp DE increased its position in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Invesco Ltd. increased its position in shares of Public Service Enterprise Group by 27.8% during the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock worth $544,973,000 after purchasing an additional 1,408,707 shares during the last quarter. Railway Pension Investments Ltd lifted its position in Public Service Enterprise Group by 97.5% in the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock valued at $158,390,000 after buying an additional 937,100 shares during the last quarter. Finally, ATLAS Infrastructure Partners UK Ltd. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $61,174,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $81.08 on Thursday. The firm’s 50 day moving average is $82.66 and its two-hundred day moving average is $81.80. 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 quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $40.44 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.61 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the business earned $0.84 EPS. Public Service Enterprise Group’s revenue for the quarter was up 18.3% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. 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 presently 63.51%.

Wall Street Analyst Weigh In

Several research firms have recently commented on PEG. JPMorgan Chase & Co. raised their price target on 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. UBS Group cut their target price on shares of 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. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Scotiabank reiterated a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Finally, Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a report on Thursday, March 5th. 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’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.88.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the transaction, the senior vice president directly owned 28,481 shares in the company, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently 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.