Ethic Inc. Has $8.48 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Ethic Inc. boosted its stake in Public Service Enterprise Group by 469.5% in the fourth quarter, ending with 105,571 shares worth about $8.48 million.
• Public Service Enterprise Group reported better-than-expected earnings and revenue for the quarter, with EPS of $1.55 versus $1.44 expected and revenue of $3.85 billion versus $3.35 billion expected.
• The utility declared a quarterly dividend of $0.67 per share, implying an annualized yield of about 3.5%, while analysts currently rate the stock a Moderate Buy with an average price target of $93.42.

Ethic Inc. grew its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 469.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 105,571 shares of the utilities provider's stock after buying an additional 87,032 shares during the quarter. Ethic Inc.'s holdings in Public Service Enterprise Group were worth $8,477,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at $27,000. Quest 10 Wealth Builders Inc. increased its stake in shares of 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 in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at $38,000. Finally, CGC Financial Services LLC increased its stake in shares of 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 in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.9%

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

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 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 analysts' expectations 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. Public Service Enterprise Group's payout ratio is 59.29%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, 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 transaction, the senior vice president owned 28,481 shares of the company's stock, valued at $2,363,923. The trade was a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 289,315 shares in the company, valued at $23,495,271.15. The trade was a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 10,949 shares of company stock worth $902,747 in the last ninety days. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PEG. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. JPMorgan Chase & Co. lifted their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Evercore upgraded Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price objective for the company in a research report on Thursday, March 5th. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $93.42.

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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