KBC Group NV Increases Position in Public Service Enterprise Group Incorporated $PEG

KBC Group NV raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,826 shares of the utilities provider’s stock after purchasing an additional 16,475 shares during the period. KBC Group NV’s holdings in Public Service Enterprise Group were worth $10,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Swiss National Bank increased its stake in Public Service Enterprise Group by 7.1% during the first quarter. Swiss National Bank now owns 1,464,900 shares of the utilities provider’s stock worth $118,584,000 after acquiring an additional 97,100 shares during the last quarter. Valley Wealth Managers Inc. boosted its holdings in shares of Public Service Enterprise Group by 1.9% in the 1st quarter. Valley Wealth Managers Inc. now owns 56,972 shares of the utilities provider’s stock worth $4,612,000 after purchasing an additional 1,087 shares during the period. AIA Group Ltd increased its position in shares of Public Service Enterprise Group by 48.4% during the 1st quarter. AIA Group Ltd now owns 95,107 shares of the utilities provider’s stock valued at $7,699,000 after purchasing an additional 31,037 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in Public Service Enterprise Group in the first quarter worth $840,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings in Public Service Enterprise Group by 75.4% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,501 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 645 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions 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, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. This trade represents a 0.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% 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. In the last quarter, insiders sold 9,284 shares of company stock valued at $746,145. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

PEG has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating for the company in a research note on Wednesday. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective for the company. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.25.

Public Service Enterprise Group Trading Up 2.8%

Public Service Enterprise Group stock opened at $79.61 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company has a market capitalization of $39.67 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 2.91 and a beta of 0.51. The stock has a 50-day moving average price of $79.63 and a 200 day moving average price of $80.85.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the business earned $1.43 earnings per share. The business’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. Sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

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.