Van ECK Associates Corp Increases Holdings in Public Service Enterprise Group Incorporated $PEG

Van ECK Associates Corp grew its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 43.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,934,129 shares of the utilities provider’s stock after purchasing an additional 583,773 shares during the period. Van ECK Associates Corp’s holdings in Public Service Enterprise Group were worth $161,423,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PEG. Capital Research Global Investors boosted its position in shares of Public Service Enterprise Group by 6.2% during the third quarter. Capital Research Global Investors now owns 8,132,936 shares of the utilities provider’s stock valued at $678,775,000 after buying an additional 477,387 shares during the period. Capital International Inc. CA lifted its holdings in Public Service Enterprise Group by 30.9% during the third quarter. Capital International Inc. CA now owns 86,616 shares of the utilities provider’s stock worth $7,229,000 after buying an additional 20,468 shares during the period. Bank of Montreal Can grew its stake in Public Service Enterprise Group by 11.2% in the third quarter. Bank of Montreal Can now owns 487,263 shares of the utilities provider’s stock valued at $40,667,000 after purchasing an additional 49,087 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Public Service Enterprise Group by 5.8% during the 3rd quarter. Legal & General Group Plc now owns 7,095,987 shares of the utilities provider’s stock worth $592,231,000 after acquiring an additional 386,524 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Public Service Enterprise Group by 26.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,138,198 shares of the utilities provider’s stock valued at $94,992,000 after purchasing an additional 237,286 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PEG shares. Scotiabank restated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price for the company in a research note on Wednesday, January 7th. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target on the stock in a research note on Thursday, March 5th. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 price target (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $92.73.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the sale, the chief executive officer directly owned 292,889 shares of the company’s stock, valued at $24,503,093.74. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares of the company’s stock, valued at $2,363,923. This represents a 14.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 0.9%

NYSE:PEG opened at $83.28 on Wednesday. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The stock has a market cap of $41.53 billion, a P/E ratio of 19.73, a P/E/G ratio of 2.74 and a beta of 0.60. 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 stock has a 50-day simple moving average of $81.94 and a 200-day simple moving average of $81.78.

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

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a $0.67 dividend. The ex-dividend date of this dividend is 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 annualized dividend and a dividend yield of 3.2%. Public Service Enterprise Group’s payout ratio is presently 59.72%.

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.