Denali Advisors LLC Purchases Shares of 18,920 Public Service Enterprise Group Incorporated $PEG

Key Points

• Denali Advisors disclosed a new fourth-quarter stake in Public Service Enterprise Group, buying 18,920 shares valued at about $1.52 million.
• Analyst sentiment remains constructive overall, with a consensus “Moderate Buy” rating and an average price target of $93.42, though several firms recently adjusted targets and ratings.
• PEG reported better-than-expected quarterly results, with EPS of $1.55 versus $1.44 expected and revenue up 19.4% year over year; the company also announced a quarterly dividend of $0.67 per share.

Denali Advisors LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 18,920 shares of the utilities provider's stock, valued at approximately $1,519,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC acquired a new position in Public Service Enterprise Group in the third quarter valued at approximately $27,000. Quest 10 Wealth Builders Inc. lifted its stake 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 valued at $28,000 after buying an additional 248 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in Public Service Enterprise Group in the third quarter valued at approximately $38,000. Finally, CGC Financial Services LLC lifted its stake in Public Service Enterprise Group by 98.5% in the third quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider's stock valued at $43,000 after buying an additional 258 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on PEG shares. Barclays boosted their price target on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. BMO Capital Markets boosted their price target on 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. Evercore raised Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 target price on the stock in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and an average price target of $93.42.

Insiders Place Their Bets

In related 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 directly owned 289,315 shares of the company's stock, valued at approximately $23,495,271.15. This represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares of the company's stock, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,949 shares of company stock valued at $902,747 over the last three months. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $77.12 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a twelve month low of $76.00 and a twelve month high of $91.25. The stock's 50 day moving average is $81.94 and its 200-day moving average is $81.57. The firm has a market capitalization of $38.43 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.91 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results 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 return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. Public Service Enterprise Group's revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced 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 of this dividend is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio is presently 59.29%.

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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