Magellan Asset Management Ltd Boosts Stock Position in Public Service Enterprise Group Incorporated $PEG

Magellan Asset Management Ltd increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 25.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 523,529 shares of the utilities provider’s stock after purchasing an additional 104,975 shares during the period. Magellan Asset Management Ltd’s holdings in Public Service Enterprise Group were worth $42,380,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the second quarter valued at $25,000. Quest 10 Wealth Builders Inc. increased its holdings in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after buying an additional 248 shares during the last quarter. Bayban purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $33,000. Motiv8 Investments LLC bought a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Public Service Enterprise Group in the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.7%

PEG opened at $77.25 on Wednesday. The stock has a market cap of $38.50 billion, a price-to-earnings ratio of 17.09, a P/E/G ratio of 2.93 and a beta of 0.51. The stock’s 50 day moving average price is $79.58 and its 200-day moving average price is $80.86. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the company earned $1.43 EPS. Public Service Enterprise Group’s quarterly 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 forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.29%.

Analysts Set New Price Targets

Several research firms recently weighed in on PEG. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. Truist Financial lifted their price objective on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, BMO Capital Markets raised 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 report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.68.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of the company’s 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 transaction, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the transaction, the chief executive officer directly owned 285,149 shares in the company, valued at $22,957,345.99. This represents a 0.73% 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. Over the last quarter, insiders have sold 9,284 shares of company stock valued at $746,145. Corporate 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.