Candriam S.C.A. Acquires 14,154 Shares of Public Service Enterprise Group Incorporated $PEG

Candriam S.C.A. raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 95,454 shares of the utilities provider's stock after acquiring an additional 14,154 shares during the quarter. Candriam S.C.A.'s holdings in Public Service Enterprise Group were worth $7,727,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. raised its holdings in Public Service Enterprise Group by 250.5% during the 4th 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 period. Bayban acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $33,000. Motiv8 Investments LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their target price on shares of 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. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a "market perform" rating in a report on Monday, April 13th. Wells Fargo & Company boosted their price objective on shares of 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 raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Finally, Royal Bank Of Canada started 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 on the stock. 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 MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.32.

Public Service Enterprise Group Stock Up 0.0%

Shares of Public Service Enterprise Group stock opened at $80.56 on Monday. The stock's 50-day moving average is $79.54 and its 200 day moving average is $80.92. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The firm has a market cap of $40.15 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 3.03 and a beta of 0.51. 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 results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion for 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 company's revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were given 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 payout ratio is presently 59.29%.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer directly owned 285,149 shares of the company's stock, valued at $22,957,345.99. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, COO Kim C. Hanemann sold 3,035 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,284 shares of company stock worth $746,145 in the last quarter. 0.19% of the stock is owned by corporate insiders.

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.

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