Ethic Inc. Buys 87,032 Shares of Public Service Enterprise Group Incorporated $PEG

Ethic Inc. grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 469.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 105,571 shares of the utilities provider’s stock after acquiring an additional 87,032 shares during the quarter. Ethic Inc.’s holdings in Public Service Enterprise Group were worth $8,477,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PEG. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at about $25,000. Cedar Mountain Advisors LLC acquired a new stake in Public Service Enterprise Group in the third quarter valued at about $27,000. Quest 10 Wealth Builders Inc. boosted its stake in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after buying an additional 248 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in Public Service Enterprise Group in the third quarter valued at about $38,000. Finally, CGC Financial Services LLC boosted its stake in Public Service Enterprise Group by 98.5% in the third quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock valued at $43,000 after buying an additional 258 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the transaction, the senior vice president directly owned 28,481 shares in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the transaction, the chief executive officer owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 10,949 shares of company stock worth $902,747. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 0.9%

Shares of Public Service Enterprise Group stock opened at $77.12 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.60 and a current ratio of 0.97. Public Service Enterprise Group Incorporated has a 52 week low of $76.00 and a 52 week high of $91.25. The stock has a 50 day moving average price of $81.94 and a two-hundred day moving average price of $81.57. The stock has a market capitalization of $38.43 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.91 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly 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. The business had revenue of $3.85 billion for 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%.Public Service Enterprise Group’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PEG shares. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective on the stock in a research note on Thursday, March 5th. Truist Financial initiated coverage on Public Service Enterprise Group in a research note on Tuesday, April 21st. They issued a “hold” rating and a $91.00 price objective on the stock. Finally, Wells Fargo & Company increased their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.42.

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.