Public Service Enterprise Group Incorporated $PEG Shares Bought by AMF Tjanstepension AB

AMF Tjanstepension AB raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 470,925 shares of the utilities provider’s stock after purchasing an additional 14,470 shares during the quarter. AMF Tjanstepension AB’s holdings in Public Service Enterprise Group were worth $38,121,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. boosted its holdings in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 248 shares during the last quarter. Bayban purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $33,000. Motiv8 Investments LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $44,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PEG shares. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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 company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s 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 completion of the sale, the chief executive officer owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. 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 ninety days, insiders sold 9,284 shares of company stock worth $746,145. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Up 0.0%

PEG stock opened at $80.56 on Monday. The firm has a 50-day simple moving average of $79.54 and a 200-day simple moving average of $80.92. 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 stock has a market capitalization of $40.15 billion, a P/E ratio of 17.82, a P/E/G ratio of 3.03 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced 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. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 59.29%.

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.