Cornerstone Planning Group LLC Buys 11,492 Shares of Public Service Enterprise Group Incorporated $PEG

Cornerstone Planning Group LLC increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 3,990.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 11,780 shares of the utilities provider’s stock after buying an additional 11,492 shares during the period. Cornerstone Planning Group LLC’s holdings in Public Service Enterprise Group were worth $959,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PEG. Bank of America Corp DE boosted its holdings in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after buying an additional 3,469,886 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA boosted its holdings in shares of Public Service Enterprise Group by 174.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after buying an additional 1,788,449 shares during the period. Railway Pension Investments Ltd boosted its holdings in shares of Public Service Enterprise Group by 97.5% during the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after buying an additional 937,100 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after buying an additional 715,051 shares during the period. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of several research analyst reports. Evercore raised shares of 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 report on Thursday, March 5th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. JPMorgan Chase & Co. boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $87.50 to $84.50 in a report on Friday, March 13th. Finally, Scotiabank reissued a “sector perform” rating and issued a $92.00 price objective 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, seven have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus target price of $93.19.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction that occurred on 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 directly owned 28,481 shares in the company, valued at $2,363,923. This represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.24, for a total transaction of $169,222.92. Following the transaction, the chief executive officer owned 291,398 shares of the company’s stock, valued at approximately $23,673,173.52. This represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 8,866 shares of company stock valued at $733,587. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $80.29 on Friday. The firm has a 50 day moving average of $82.36 and a 200-day moving average of $81.70. The stock has a market capitalization of $40.04 billion, a PE ratio of 19.02, a PEG ratio of 3.08 and a beta of 0.53. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. Public Service Enterprise Group Incorporated has a 12 month low of $76.00 and a 12 month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $2.92 billion during 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 revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. 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 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 63.51%.

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.