Eventide Asset Management LLC Decreases Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Eventide Asset Management cut its stake in Public Service Enterprise Group by 36.2% in the fourth quarter, selling 72,023 shares and leaving it with 127,174 shares valued at about $10.2 million.
• The company recently posted strong quarterly results, with EPS of $1.55 beating estimates and revenue of $3.85 billion topping forecasts, while raising its FY 2026 guidance to $4.28-$4.40 EPS.
• PEG is still viewed favorably by analysts and pays a dividend: the consensus rating is Moderate Buy with a $93.19 price target, and the company declared a quarterly dividend of $0.67 per share, yielding about 3.4%.

Eventide Asset Management LLC lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 36.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 127,174 shares of the utilities provider's stock after selling 72,023 shares during the quarter. Eventide Asset Management LLC's holdings in Public Service Enterprise Group were worth $10,224,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Entropy Technologies LP boosted its stake in shares of Public Service Enterprise Group by 115.6% in the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider's stock valued at $1,985,000 after buying an additional 13,253 shares during the period. Barclays PLC raised its position in shares of Public Service Enterprise Group by 57.1% during the 4th quarter. Barclays PLC now owns 1,439,753 shares of the utilities provider's stock worth $115,612,000 after acquiring an additional 523,306 shares in the last quarter. Aptus Capital Advisors LLC raised its position in shares of Public Service Enterprise Group by 3.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 8,761 shares of the utilities provider's stock worth $703,000 after acquiring an additional 272 shares in the last quarter. Arete Wealth Advisors LLC raised its position in shares of Public Service Enterprise Group by 10.3% during the 4th quarter. Arete Wealth Advisors LLC now owns 9,190 shares of the utilities provider's stock worth $738,000 after acquiring an additional 857 shares in the last quarter. Finally, Jacobi Capital Management LLC raised its position in shares of Public Service Enterprise Group by 0.9% during the 4th quarter. Jacobi Capital Management LLC now owns 22,769 shares of the utilities provider's stock worth $1,828,000 after acquiring an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. This trade represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,249 shares of company stock valued at $498,795. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. 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 lowered Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Barclays raised their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Finally, BMO Capital Markets raised their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a "market perform" rating in a research report on Monday, April 13th. 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $93.19.

Public Service Enterprise Group Trading Down 0.1%

PEG opened at $79.63 on Monday. The firm has a market cap of $39.68 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 3.00 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The business's 50 day moving average is $79.57 and its two-hundred day moving average is $80.86. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted $1.43 earnings per share. The firm's revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 59.29%.

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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