DNB Asset Management AS Has $31.38 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• DNB Asset Management AS increased its stake in Public Service Enterprise Group by 25.7% in the fourth quarter, owning 390,808 shares worth about $31.38 million.
• Public Service Enterprise Group reported stronger-than-expected quarterly results, with EPS of $1.55 versus the $1.44 estimate and revenue of $3.85 billion, up 19.4% year over year.
• The company announced a quarterly dividend of $0.67 per share, implying a 3.5% annual yield, while analysts currently rate the stock a Moderate Buy with an average price target of $93.42.

DNB Asset Management AS raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 25.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 390,808 shares of the utilities provider's stock after purchasing an additional 80,016 shares during the quarter. DNB Asset Management AS owned 0.08% of Public Service Enterprise Group worth $31,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Commerzbank Aktiengesellschaft FI boosted its holdings in Public Service Enterprise Group by 5.0% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 18,118 shares of the utilities provider's stock valued at $1,455,000 after purchasing an additional 861 shares in the last quarter. Phoenix Financial Ltd. acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $2,008,000. Thrivent Financial for Lutherans boosted its holdings in Public Service Enterprise Group by 42.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,440 shares of the utilities provider's stock valued at $2,846,000 after purchasing an additional 10,572 shares in the last quarter. Arbejdsmarkedets Tillaegspension acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $23,543,000. Finally, Allworth Financial LP boosted its holdings in Public Service Enterprise Group by 11.7% during the fourth quarter. Allworth Financial LP now owns 16,775 shares of the utilities provider's stock valued at $1,347,000 after purchasing an additional 1,753 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Performance

PEG stock opened at $76.51 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The company has a 50 day moving average price of $81.04 and a 200 day moving average price of $81.33. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.09 and a fifty-two week high of $91.25. The stock has a market capitalization of $38.12 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the previous year, the company posted $1.43 EPS. Public Service Enterprise Group's revenue 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. Analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 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. Investors of record on Tuesday, June 9th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.5%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's payout ratio is 59.29%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the transaction, the chief executive officer owned 289,315 shares in the company, valued at $23,495,271.15. The trade was a 0.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 business's stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares of the company's stock, valued at $2,363,923. This trade represents a 14.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,949 shares of company stock valued at $902,747 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. BMO Capital Markets lifted their target price 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. Weiss Ratings reiterated a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Truist Financial assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, April 21st. They issued a "hold" rating and a $91.00 target price for the company. Jefferies Financial Group cut shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and cut their target price for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Finally, Barclays lifted their target price on shares of 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. 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 company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $93.42.

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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