Van ECK Associates Corp Grows Position in Public Service Enterprise Group Incorporated $PEG

Van ECK Associates Corp boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 40.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,708,385 shares of the utilities provider’s stock after acquiring an additional 774,256 shares during the quarter. Van ECK Associates Corp owned about 0.54% of Public Service Enterprise Group worth $217,483,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PEG. Rossby Financial LCC raised its holdings in shares of Public Service Enterprise Group by 5.5% in the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after purchasing an additional 121 shares during the period. Colonial Trust Co SC raised its holdings in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 121 shares during the period. JPL Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock worth $2,734,000 after purchasing an additional 122 shares during the period. Strategic Investment Advisors MI raised its holdings in shares of Public Service Enterprise Group by 0.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 127 shares during the period. Finally, Simplicity Wealth LLC raised its holdings in shares of Public Service Enterprise Group by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 129 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was 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 owned 287,232 shares in the company, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 6,249 shares of company stock worth $498,795. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $79.63 on Friday. The company has a market cap of $39.68 billion, a P/E ratio of 17.62, a PEG ratio of 2.97 and a beta of 0.51. 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 Incorporated has a one year low of $76.05 and a one year high of $91.25. The business’s 50-day simple moving average is $79.57 and its 200 day simple moving average is $80.87.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating 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 quarter last year, the firm earned $1.43 EPS. Public Service Enterprise Group’s quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts forecast 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Wall Street Analyst Weigh In

PEG has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday. Truist Financial dropped their target price on 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. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $93.19.

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.