AXQ Capital LP Buys New Shares in Public Service Enterprise Group Incorporated $PEG

AXQ Capital LP bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,235 shares of the utilities provider’s stock, valued at approximately $822,000.

Several other institutional investors have also recently added to or reduced their stakes in PEG. Empowered Funds LLC increased its stake in Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after purchasing an additional 940 shares during the last quarter. Woodline Partners LP increased its stake in Public Service Enterprise Group by 40.7% in the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after purchasing an additional 12,172 shares during the last quarter. Cresset Asset Management LLC increased its stake in Public Service Enterprise Group by 27.6% in the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 1,040 shares during the last quarter. Jump Financial LLC increased its stake in Public Service Enterprise Group by 70.4% in the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock valued at $1,070,000 after purchasing an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC increased its stake in Public Service Enterprise Group by 3.0% in the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock valued at $4,785,000 after purchasing an additional 1,649 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEG. BMO Capital Markets upped their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, April 13th. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Barclays upped their price target on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Truist Financial dropped their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Finally, Wells Fargo & Company upped their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 8,332 shares of company stock valued at $673,059 over the last ninety days. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $78.24 on Wednesday. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The business has a 50-day moving average of $79.93 and a 200-day moving average of $81.08. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The company has a market capitalization of $38.99 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 2.89 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The company’s revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

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.