AXQ Capital LP Takes $822,000 Position in Public Service Enterprise Group Incorporated $PEG

AXQ Capital LP bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,235 shares of the utilities provider’s stock, valued at approximately $822,000.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after buying an additional 2,189,951 shares in the last quarter. State Street Corp boosted its stake in shares of Public Service Enterprise Group by 1.0% in the third quarter. State Street Corp now owns 27,598,607 shares of the utilities provider’s stock valued at $2,303,380,000 after buying an additional 267,871 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Public Service Enterprise Group by 1.4% in the third quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after buying an additional 236,794 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock valued at $1,021,475,000 after buying an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 8.1% in the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock valued at $722,546,000 after buying an additional 648,140 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 2.0%

PEG opened at $78.24 on Wednesday. The business’s fifty day moving average is $79.93 and its two-hundred day moving average is $81.08. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The company has a market cap of $38.99 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 2.89 and a beta of 0.51. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping 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 company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the business earned $1.43 earnings per share. Public Service Enterprise Group’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. Analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed 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. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the sale, the chief executive officer directly owned 287,232 shares in the company, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 8,332 shares of company stock valued at $673,059 in the last quarter. 0.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on PEG. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. boosted their target price 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. Finally, Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.19.

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.