Public Service Enterprise Group Incorporated $PEG Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 40.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,708,385 shares of the utilities provider’s stock after buying an additional 774,256 shares during the period. Van ECK Associates Corp’s holdings in Public Service Enterprise Group were worth $217,483,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Nordea Investment Management AB grew its position in shares of Public Service Enterprise Group by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock worth $182,759,000 after acquiring an additional 504,632 shares in the last quarter. Assetmark Inc. grew its position in shares of Public Service Enterprise Group by 4.6% in the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after acquiring an additional 38,949 shares in the last quarter. Greenland Capital Management LP grew its position in shares of Public Service Enterprise Group by 238.9% in the 3rd quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider’s stock worth $5,820,000 after acquiring an additional 49,157 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Public Service Enterprise Group by 38.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider’s stock worth $75,572,000 after acquiring an additional 252,718 shares in the last quarter. Finally, Pensionfund Sabic acquired a new position in shares of Public Service Enterprise Group in the 4th quarter worth approximately $1,301,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.1%

Shares of NYSE PEG opened at $79.63 on Friday. The company has a market cap of $39.68 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 2.97 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock’s 50 day simple moving average is $79.57 and its 200 day simple moving average is $80.87.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PEG shares. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Truist Financial decreased their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, May 18th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. raised their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company 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, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. The trade was a 0.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,249 shares of company stock valued at $498,795. Company insiders own 0.19% of the company’s stock.

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.