Tobam Purchases 9,421 Shares of Public Service Enterprise Group Incorporated $PEG

Tobam grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 49,584.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,440 shares of the utilities provider’s stock after acquiring an additional 9,421 shares during the quarter. Tobam’s holdings in Public Service Enterprise Group were worth $758,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP lifted its position in shares of Public Service Enterprise Group by 115.6% during the fourth quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock worth $1,985,000 after purchasing an additional 13,253 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Public Service Enterprise Group by 28.6% during the fourth quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock valued at $182,759,000 after purchasing an additional 504,632 shares during the period. Greenland Capital Management LP grew its holdings in shares of Public Service Enterprise Group by 238.9% in the third quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider’s stock worth $5,820,000 after purchasing an additional 49,157 shares during the last quarter. Pensionfund Sabic purchased a new position in Public Service Enterprise Group in the 4th quarter worth about $1,301,000. Finally, Union Bancaire Privee UBP SA purchased a new position in Public Service Enterprise Group in the 4th quarter worth about $1,407,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $79.88 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The business has a 50-day moving average price of $79.39 and a 200 day moving average price of $80.76. The company has a market capitalization of $39.80 billion, a P/E ratio of 17.67, a PEG ratio of 3.01 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

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

Public Service Enterprise Group Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. JPMorgan Chase & Co. lifted their price target 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. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Finally, Evercore upgraded 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 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, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock worth $498,795 in the last 90 days. 0.19% of the stock is currently owned by company insiders.

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.