AMF Tjanstepension AB Increases Stock Position in Public Service Enterprise Group Incorporated $PEG

AMF Tjanstepension AB lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 470,925 shares of the utilities provider's stock after purchasing an additional 14,470 shares during the quarter. AMF Tjanstepension AB owned about 0.09% of Public Service Enterprise Group worth $38,121,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PEG. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the second quarter worth $25,000. Quest 10 Wealth Builders Inc. lifted its position in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock worth $28,000 after buying an additional 248 shares during the last quarter. Bayban purchased a new position in Public Service Enterprise Group during the fourth quarter worth $33,000. Motiv8 Investments LLC purchased a new position in Public Service Enterprise Group during the fourth quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Public Service Enterprise Group during the fourth quarter worth $44,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They set a "sector perform" rating and a $81.00 price target on the stock. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. BMO Capital Markets increased 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. Weiss Ratings downgraded Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. Finally, Truist Financial lowered their target price 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.32.

Public Service Enterprise Group Stock Up 0.0%

NYSE:PEG opened at $80.56 on Monday. 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 Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The company has a 50-day moving average of $79.54 and a 200 day moving average of $80.92. The firm has a market cap of $40.15 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 3.03 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion for 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 company's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio is 59.29%.

Insider Activity

In other Public Service Enterprise Group news, 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 value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares of the company's stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The transaction 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. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer owned 285,149 shares of the company's stock, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 9,284 shares of company stock valued at $746,145. Insiders own 0.19% of the company's stock.

About Public Service Enterprise Group

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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