Nykredit A S Acquires New Position in Public Service Enterprise Group Incorporated $PEG

Nykredit A S bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, Holdings Channel reports. The firm bought 218,821 shares of the utilities provider’s stock, valued at approximately $17,760,000.

A number of other hedge funds also recently added to or reduced their stakes in PEG. Entropy Technologies LP grew its position in shares of Public Service Enterprise Group by 115.6% in the fourth quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock valued at $1,985,000 after purchasing an additional 13,253 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 26.3% during the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock worth $5,593,000 after purchasing an additional 14,406 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Public Service Enterprise Group by 120.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock valued at $5,108,000 after buying an additional 34,415 shares in the last quarter. Elevation Point Wealth Partners LLC lifted its stake in Public Service Enterprise Group by 135.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock valued at $1,756,000 after buying an additional 12,468 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its holdings in Public Service Enterprise Group by 38.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock valued at $156,305,000 after buying an additional 536,363 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,201 shares of company stock worth $1,172,339 in the last 90 days. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

PEG has been the subject of several recent research reports. Wells Fargo & Company dropped their price target on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research report on Wednesday, August 5th. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Morgan Stanley dropped their price objective on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. Citigroup cut their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Finally, Truist Financial reduced their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.43.

Public Service Enterprise Group Trading Down 0.3%

Shares of PEG opened at $73.57 on Friday. The stock has a fifty day moving average of $77.21 and a two-hundred day moving average of $79.76. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market capitalization of $36.67 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.50. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.53 and a fifty-two week high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.6%. Public Service Enterprise Group’s payout ratio is 66.67%.

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.