BI Asset Management Fondsmaeglerselskab A S Decreases Holdings in Public Service Enterprise Group Incorporated $PEG

BI Asset Management Fondsmaeglerselskab A S decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 10,344 shares of the utilities provider’s stock after selling 8,575 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Public Service Enterprise Group were worth $837,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Colonial Trust Co SC lifted its position in shares of Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after acquiring an additional 121 shares in the last quarter. JPL Wealth Management LLC grew its position in shares of Public Service Enterprise Group by 0.4% in the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after purchasing an additional 122 shares in the last quarter. Strategic Investment Advisors MI grew its position in shares of Public Service Enterprise Group by 0.8% in the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after purchasing an additional 127 shares in the last quarter. Simplicity Wealth LLC raised its stake in shares of Public Service Enterprise Group by 3.3% during the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 129 shares during the period. Finally, Key Financial Inc raised its stake in shares of Public Service Enterprise Group by 2.6% during the 4th quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 133 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $81.87 on Thursday. The company has a market capitalization of $40.80 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 3.06 and a beta of 0.51. The business has a 50 day moving average of $79.30 and a 200 day moving average of $80.77. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the firm posted $1.43 earnings per share. The business’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, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PEG. BMO Capital Markets raised their target price 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. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial lowered their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Scotiabank restated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Finally, Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at $22,119,736.32. The trade was 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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,249 shares of company stock valued at $498,795. Insiders own 0.19% of the company’s stock.

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.