Public Service Enterprise Group Incorporated $PEG Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 10.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 529,085 shares of the utilities provider’s stock after selling 63,001 shares during the quarter. BNP Paribas Financial Markets’ holdings in Public Service Enterprise Group were worth $42,486,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PEG. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $552,280,000. Bank of America Corp DE raised its holdings in Public Service Enterprise Group by 24.7% during the second 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. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after purchasing an additional 2,189,951 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Public Service Enterprise Group by 174.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after purchasing an additional 1,788,449 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Public Service Enterprise Group by 9.8% during the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after purchasing an additional 715,051 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,249 shares of company stock worth $498,795 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $77.90 on Thursday. The firm has a market capitalization of $38.82 billion, a P/E ratio of 17.24, a PEG ratio of 2.95 and a beta of 0.51. The stock has a fifty day moving average price of $79.87 and a 200 day moving average price of $81.01. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is 59.29%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEG. Wells Fargo & Company lifted their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. Scotiabank reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Barclays lifted their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Finally, Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group 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.