Verition Fund Management LLC Grows Position in Public Service Enterprise Group Incorporated $PEG

Verition Fund Management LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 427.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 374,489 shares of the utilities provider’s stock after purchasing an additional 303,526 shares during the period. Verition Fund Management LLC’s holdings in Public Service Enterprise Group were worth $30,071,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PEG. Empowered Funds LLC grew its position in shares of Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after purchasing an additional 940 shares in the last quarter. Woodline Partners LP grew its holdings in Public Service Enterprise Group by 40.7% in the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after buying an additional 12,172 shares in the last quarter. Cresset Asset Management LLC grew its holdings in Public Service Enterprise Group by 27.6% in the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after buying an additional 1,040 shares in the last quarter. Jump Financial LLC increased its stake in shares of Public Service Enterprise Group by 70.4% in the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after acquiring an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after acquiring an additional 1,649 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the 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 sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock worth $498,795 in the last 90 days. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $79.63 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The firm has a market cap of $39.68 billion, a P/E ratio of 17.62, a P/E/G ratio of 3.00 and a beta of 0.51. The firm’s 50 day moving average price is $79.57 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.

Public Service Enterprise Group (NYSE:PEG) last posted 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 firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts predict 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 announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PEG. Barclays boosted their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Truist Financial dropped their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Finally, BMO Capital Markets raised their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research note on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

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.