Candriam S.C.A. Purchases 14,154 Shares of Public Service Enterprise Group Incorporated $PEG

Candriam S.C.A. boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 95,454 shares of the utilities provider’s stock after acquiring an additional 14,154 shares during the quarter. Candriam S.C.A.’s holdings in Public Service Enterprise Group were worth $7,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 3.4% during the fourth 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 last quarter. State Street Corp grew its holdings in shares of Public Service Enterprise Group by 2.8% during the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after buying an additional 762,591 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Public Service Enterprise Group by 1.4% during the third quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after buying an additional 236,794 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Public Service Enterprise Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after acquiring an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Public Service Enterprise Group by 8.1% during the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock worth $722,546,000 after acquiring an additional 648,140 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent research reports. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their target price for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Wells Fargo & Company increased their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets upped their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $92.32.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares of the company’s stock, valued at $22,957,345.99. This represents a 0.73% decrease in their position. The sale was disclosed in a 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, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their position. 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. In the last 90 days, insiders have sold 9,284 shares of company stock valued at $746,145. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $80.56 on Monday. The business’s fifty day simple moving average is $79.54 and its 200 day simple moving average is $80.92. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The firm has a market capitalization of $40.15 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 3.03 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.43 EPS. 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 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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