Fjarde AP Fonden Fourth Swedish National Pension Fund Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 1st quarter, HoldingsChannel reports. The fund purchased 60,350 shares of the utilities provider’s stock, valued at approximately $4,885,000.

A number of other large investors have also recently modified their holdings of PEG. Empowered Funds LLC lifted its stake in Public Service Enterprise Group by 10.3% during the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after buying an additional 12,172 shares in the last quarter. Cresset Asset Management LLC lifted its position in Public Service Enterprise Group by 27.6% in the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after buying an additional 1,040 shares during the last quarter. Jump Financial LLC boosted its stake in Public Service Enterprise Group by 70.4% in the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after buying an additional 5,250 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in Public Service Enterprise Group by 3.0% during the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock valued at $4,785,000 after acquiring an additional 1,649 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.1%

Shares of PEG opened at $80.75 on Tuesday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The firm has a fifty day simple moving average of $79.48 and a two-hundred day simple moving average of $80.90. The stock has a market capitalization of $40.24 billion, a P/E ratio of 17.87, a PEG ratio of 3.07 and a beta of 0.51. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve month high of $91.25.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.29%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Truist Financial decreased their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. Jefferies Financial Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. Finally, JPMorgan Chase & Co. raised their price objective on 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.32.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the sale, the chief executive officer directly owned 285,149 shares in the company, valued at $22,957,345.99. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is currently owned by company insiders.

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.