OFI Invest Asset Management Has $33.27 Million Position in Public Service Enterprise Group Incorporated $PEG

OFI Invest Asset Management increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 26,506.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 414,266 shares of the utilities provider’s stock after buying an additional 412,709 shares during the period. OFI Invest Asset Management owned 0.08% of Public Service Enterprise Group worth $33,266,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PEG. Bank of America Corp DE increased its holdings in Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after buying an additional 3,469,886 shares during the last quarter. Railway Pension Investments Ltd increased its holdings in Public Service Enterprise Group by 97.5% in the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after buying an additional 937,100 shares during the last quarter. ATLAS Infrastructure Partners UK Ltd. acquired a new position in Public Service Enterprise Group in the second quarter worth approximately $61,174,000. Ameriprise Financial Inc. increased its holdings in Public Service Enterprise Group by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after buying an additional 715,051 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Public Service Enterprise Group by 43.2% in the third quarter. Van ECK Associates Corp now owns 1,934,129 shares of the utilities provider’s stock worth $161,423,000 after buying an additional 583,773 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $81.24, for a total value of $169,222.92. Following the completion of the sale, the chief executive officer directly owned 291,398 shares of the company’s stock, valued at approximately $23,673,173.52. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 8,866 shares of company stock valued at $733,587 over the last three months. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 1.4%

Shares of Public Service Enterprise Group stock opened at $82.77 on Thursday. The stock has a market capitalization of $41.28 billion, a P/E ratio of 19.61, a PEG ratio of 2.66 and a beta of 0.58. 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 has a 50 day moving average price of $83.02 and a two-hundred day moving average price of $81.79. Public Service Enterprise Group Incorporated has a 12-month low of $75.17 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The company’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were given a $0.67 dividend. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 63.51%.

Analyst Ratings Changes

A number of research firms recently commented on PEG. Barclays increased their price objective 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. Scotiabank restated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. UBS Group decreased their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Finally, Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $92.88.

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.