56,053 Shares in Public Service Enterprise Group Incorporated $PEG Purchased by BNP Paribas

Key Points

• BNP Paribas bought 56,053 shares of Public Service Enterprise Group in the fourth quarter, a position worth about $4.5 million.
• Institutional ownership remains high, with hedge funds and other institutions owning about 73.34% of PEG shares, while CEO Ralph A. Larossa recently sold 2,083 shares in a Rule 10b5-1 trade.
• PEG reported strong quarterly results, beating earnings and revenue estimates, and it also announced a quarterly dividend of $0.67 per share, implying a 3.5% annualized yield.

BNP Paribas purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 56,053 shares of the utilities provider's stock, valued at approximately $4,502,000.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC raised its stake in Public Service Enterprise Group by 10.3% during the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock valued at $831,000 after buying an additional 940 shares in the last quarter. Woodline Partners LP raised its stake in Public Service Enterprise Group by 40.7% during the first 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 raised its stake in Public Service Enterprise Group by 27.6% during the second 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 raised its stake in Public Service Enterprise Group by 70.4% during the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider's stock valued at $1,070,000 after buying an additional 5,250 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in Public Service Enterprise Group by 3.0% during the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider's stock valued at $4,785,000 after buying an additional 1,649 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the sale, the chief executive officer owned 289,315 shares in the company, valued at $23,495,271.15. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,249 shares of company stock valued at $512,647 in the last ninety days. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. BMO Capital Markets upped their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a report on Monday, April 13th. Barclays upped their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a report on Thursday, March 5th. Evercore raised Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 target price for the company in a report on Thursday, March 5th. Wells Fargo & Company upped 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. Finally, Jefferies Financial Group lowered Public Service Enterprise Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $93.19.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $76.71 on Tuesday. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The firm has a market capitalization of $38.23 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51. The business has a 50 day simple moving average of $79.93 and a 200 day simple moving average of $81.08. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio is 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.

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