Van ECK Associates Corp Purchases 583,773 Shares of Public Service Enterprise Group Incorporated $PEG

Van ECK Associates Corp boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 43.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,934,129 shares of the utilities provider’s stock after acquiring an additional 583,773 shares during the quarter. Van ECK Associates Corp owned 0.39% of Public Service Enterprise Group worth $161,423,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $25,000. Cedar Mountain Advisors LLC acquired a new stake in Public Service Enterprise Group in the third quarter worth $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Public Service Enterprise Group in the third quarter valued at about $38,000. Finally, CGC Financial Services LLC boosted its holdings in shares of Public Service Enterprise Group by 98.5% in the third quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock valued at $43,000 after buying an additional 258 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the sale, the chief executive officer directly owned 292,889 shares in the company, valued at $24,503,093.74. The trade was a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $83.28 on Wednesday. The company has a market capitalization of $41.53 billion, a PE ratio of 19.73, a PEG ratio of 2.74 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. The stock’s 50 day moving average price is $81.94 and its 200-day moving average price is $81.78.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the business posted $0.84 EPS. Public Service Enterprise Group’s quarterly revenue was up 18.3% 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 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.2%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 59.72%.

Analysts Set New Price Targets

PEG has been the topic of several analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating and set a $85.00 price target (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research report on Thursday, March 5th. Finally, Barclays boosted their price target on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

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.