Eurizon Capital SGR S.p.A. Invests $18.87 Million in Public Service Enterprise Group Incorporated $PEG

Key Points

• Eurizon Capital SGR bought a new stake in Public Service Enterprise Group, purchasing 234,825 shares worth about $18.87 million in the fourth quarter.
• Public Service Enterprise Group recently beat earnings and revenue expectations, reporting EPS of $1.55 versus $1.44 expected and revenue of $3.85 billion, up 19.4% year over year.
• The company announced a quarterly dividend of $0.67 per share, implying an annualized yield of about 3.4%; meanwhile, analysts currently rate the stock a Moderate Buy with an average price target of $93.19.

Eurizon Capital SGR S.p.A. purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 234,825 shares of the utilities provider's stock, valued at approximately $18,866,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Empowered Funds LLC lifted its holdings in Public Service Enterprise Group by 10.3% during the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock worth $831,000 after acquiring an additional 940 shares in the last quarter. Woodline Partners LP increased its position in shares of Public Service Enterprise Group by 40.7% in the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider's stock valued at $3,464,000 after acquiring an additional 12,172 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Public Service Enterprise Group by 27.6% in the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider's stock valued at $405,000 after acquiring an additional 1,040 shares during the last quarter. Jump Financial LLC increased its position in shares of Public Service Enterprise Group by 70.4% in the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider's stock valued at $1,070,000 after acquiring an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Public Service Enterprise Group by 3.0% in the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider's stock valued at $4,785,000 after acquiring an additional 1,649 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the transaction, the chief executive officer owned 289,315 shares in the company, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value 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 disclosure for this sale is available in the SEC filing. Insiders have sold 10,949 shares of company stock valued at $902,747 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Down 0.1%

Public Service Enterprise Group stock opened at $78.55 on Monday. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a market capitalization of $39.14 billion, a P/E ratio of 17.38, a PEG ratio of 2.96 and a beta of 0.51. The stock has a 50-day simple moving average of $80.05 and a 200 day simple moving average of $81.13.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS 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 business had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter last year, the company posted $1.43 earnings per share. Public Service Enterprise Group's quarterly 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 expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 59.29%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PEG shares. Wells Fargo & Company lifted their target price 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. Barclays lifted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a research report on Thursday, March 5th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a research report on Monday, April 13th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $87.50 to $84.50 in a research report on Friday, March 13th. Finally, Truist Financial lowered their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.19.

Public Service Enterprise Group Company 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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