GSA Capital Partners LLP Makes New Investment in Public Service Enterprise Group Incorporated $PEG

GSA Capital Partners LLP acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,250 shares of the utilities provider’s stock, valued at approximately $903,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares during the period. State Street Corp raised its holdings in Public Service Enterprise Group by 1.0% during the 3rd quarter. State Street Corp now owns 27,598,607 shares of the utilities provider’s stock worth $2,303,380,000 after buying an additional 267,871 shares during the period. Bank of America Corp DE raised its holdings in Public Service Enterprise Group by 1.4% during the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock worth $1,483,366,000 after buying an additional 236,794 shares during the period. Ameriprise Financial Inc. raised its holdings in Public Service Enterprise Group by 8.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock worth $722,546,000 after buying an additional 648,140 shares during the period. Finally, Capital Research Global Investors raised its holdings in Public Service Enterprise Group by 6.2% during the 3rd quarter. Capital Research Global Investors now owns 8,132,936 shares of the utilities provider’s stock worth $678,775,000 after buying an additional 477,387 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial cut their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Barclays boosted 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. JPMorgan Chase & Co. boosted their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Wells Fargo & Company boosted 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. Finally, Evercore upgraded 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 report on Thursday, March 5th. 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.19.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the transaction, the senior vice president owned 28,481 shares of the company’s stock, valued at $2,363,923. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 10,949 shares of company stock worth $902,747. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 1.4%

NYSE:PEG opened at $79.61 on Friday. 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 Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The stock’s 50-day moving average is $80.51 and its two-hundred day moving average is $81.22. The stock has a market cap of $39.67 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the business posted $1.43 EPS. The business’s revenue for the quarter 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 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm 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 dividend of $0.67 per share. This represents a $2.68 annualized dividend 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%.

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.