OFI Invest Asset Management Acquires 412,709 Shares of Public Service Enterprise Group Incorporated $PEG

OFI Invest Asset Management grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 26,506.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 414,266 shares of the utilities provider’s stock after acquiring an additional 412,709 shares during the quarter. OFI Invest Asset Management’s holdings in Public Service Enterprise Group were worth $33,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of PEG. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the second quarter worth $25,000. Cedar Mountain Advisors LLC bought a new position in Public Service Enterprise Group in the third quarter worth $27,000. Steigerwald Gordon & Koch Inc. bought a new position in Public Service Enterprise Group in the third quarter worth $38,000. CGC Financial Services LLC lifted its position 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 worth $43,000 after purchasing an additional 258 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Public Service Enterprise Group in the third quarter worth $43,000. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PEG shares. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. UBS Group reduced their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Argus raised Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research report on Thursday, March 5th. Finally, Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $92.88.

Insider Transactions at Public Service Enterprise Group

In related 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 value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This trade represents 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 the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $81.24, for a total value of $169,222.92. Following the transaction, the chief executive officer owned 291,398 shares of the company’s stock, valued at $23,673,173.52. The trade was a 0.71% 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. Over the last quarter, insiders sold 8,866 shares of company stock valued at $733,587. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $82.77 on Thursday. Public Service Enterprise Group Incorporated has a twelve month low of $75.17 and a twelve month high of $91.25. The firm has a market cap of $41.28 billion, a PE ratio of 19.61, a price-to-earnings-growth ratio of 2.66 and a beta of 0.58. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The business has a fifty day moving average of $83.02 and a 200-day moving average of $81.79.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The company’s revenue was up 18.3% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th were given a $0.67 dividend. The ex-dividend date was Tuesday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio is 63.51%.

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.