Public Service Enterprise Group Incorporated $PEG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 29.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,275 shares of the utilities provider’s stock after selling 8,024 shares during the quarter. Intech Investment Management LLC’s holdings in Public Service Enterprise Group were worth $1,609,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PEG. Fox Run Management L.L.C. acquired a new position in Public Service Enterprise Group during the third quarter worth $587,000. Cary Street Partners Financial LLC raised its holdings in shares of Public Service Enterprise Group by 11.1% during the 3rd quarter. Cary Street Partners Financial LLC now owns 3,167 shares of the utilities provider’s stock worth $264,000 after acquiring an additional 317 shares during the period. TD Asset Management Inc boosted its position in shares of Public Service Enterprise Group by 8.6% during the 3rd quarter. TD Asset Management Inc now owns 708,364 shares of the utilities provider’s stock valued at $59,120,000 after acquiring an additional 55,879 shares during the last quarter. Magellan Asset Management Ltd grew its holdings in shares of Public Service Enterprise Group by 12.1% in the third quarter. Magellan Asset Management Ltd now owns 396,876 shares of the utilities provider’s stock valued at $33,123,000 after purchasing an additional 42,689 shares during the period. Finally, Colonial Trust Co SC increased its position in Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 121 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $83.94 on Friday. The stock has a market capitalization of $41.86 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.74 and a beta of 0.60. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60. The business has a 50-day moving average of $81.76 and a 200 day moving average of $81.83. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior 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. As a group, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is presently 59.72%.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. UBS Group decreased their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. Barclays upped their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday. 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 note on Thursday. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a research report on Wednesday, January 7th. Finally, Scotiabank reiterated a “sector perform” rating and set a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

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.