Swedbank AB Buys 33,806 Shares of Public Service Enterprise Group Incorporated $PEG

Swedbank AB raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 482,702 shares of the utilities provider’s stock after acquiring an additional 33,806 shares during the quarter. Swedbank AB’s holdings in Public Service Enterprise Group were worth $38,761,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $25,000. Cedar Mountain Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $27,000. Quest 10 Wealth Builders Inc. increased its holdings in shares of Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in shares of Public Service Enterprise Group during the 3rd quarter worth about $38,000. Finally, CGC Financial Services LLC increased its holdings in shares of Public Service Enterprise Group by 98.5% during the 3rd 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. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the topic of several research reports. BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.42.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the transaction, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the transaction, the chief executive officer owned 289,315 shares in the company, valued at approximately $23,495,271.15. This trade represents 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 90 days, insiders sold 10,949 shares of company stock worth $902,747. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $77.87 on Friday. The stock has a market cap of $38.81 billion, a P/E ratio of 17.23, a PEG ratio of 2.99 and a beta of 0.53. The company’s 50-day simple moving average is $81.94 and its 200 day simple moving average is $81.57. Public Service Enterprise Group Incorporated has a twelve month low of $76.00 and a twelve month high of $91.25. The company has a quick ratio of 0.60, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm 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, research analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group’s payout ratio is 59.29%.

About Public Service Enterprise Group

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.