MQS Management LLC Invests $704,000 in Public Service Enterprise Group Incorporated $PEG

MQS Management LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,695 shares of the utilities provider’s stock, valued at approximately $704,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Investment Counsel LLC lifted its stake in Public Service Enterprise Group by 4.5% during the first quarter. Capital Investment Counsel LLC now owns 67,463 shares of the utilities provider’s stock worth $5,461,000 after purchasing an additional 2,922 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 9.8% in the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 15,706 shares of the utilities provider’s stock valued at $1,271,000 after buying an additional 1,408 shares in the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of Public Service Enterprise Group in the 1st quarter valued at $344,000. Janney Montgomery Scott LLC grew its position in shares of Public Service Enterprise Group by 2.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 71,518 shares of the utilities provider’s stock valued at $5,789,000 after buying an additional 1,948 shares during the last quarter. Finally, Kenora Financial LLC raised its stake in Public Service Enterprise Group by 14.5% during the 1st quarter. Kenora Financial LLC now owns 8,941 shares of the utilities provider’s stock worth $724,000 after acquiring an additional 1,130 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 1.4%

PEG opened at $81.25 on Wednesday. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The business has a 50 day moving average price of $79.36 and a two-hundred day moving average price of $80.87. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The company has a market cap of $40.49 billion, a PE ratio of 17.98, a P/E/G ratio of 3.10 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company’s revenue was up 19.4% on a year-over-year basis. During the same period last 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, research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Analyst Ratings Changes

PEG has been the subject of a number of research reports. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a research report on Thursday, March 5th. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. JPMorgan Chase & Co. boosted their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Finally, BMO Capital Markets upped their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction dated 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 owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,201 shares of company stock worth $578,442 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Company 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.