Magellan Asset Management Ltd Has $33.61 Million Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Magellan Asset Management increased its stake in Public Service Enterprise Group by 5.5% in the fourth quarter, bringing its holdings to 418,554 shares valued at about $33.6 million.
• PEG reported better-than-expected quarterly results, with EPS of $1.55 versus $1.44 estimated and revenue of $3.85 billion, while also raising its FY 2026 EPS guidance to 4.28–4.40.
• The utility declared a quarterly dividend of $0.67 per share payable June 30, implying an annualized yield of about 3.4%; meanwhile, analysts currently rate the stock a Moderate Buy on average.

Magellan Asset Management Ltd raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 418,554 shares of the utilities provider's stock after acquiring an additional 21,678 shares during the period. Magellan Asset Management Ltd owned approximately 0.08% of Public Service Enterprise Group worth $33,610,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock valued at $5,420,155,000 after purchasing an additional 2,189,951 shares in the last quarter. State Street Corp lifted its holdings in shares of Public Service Enterprise Group by 1.0% in the third quarter. State Street Corp now owns 27,598,607 shares of the utilities provider's stock valued at $2,303,380,000 after purchasing an additional 267,871 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Public Service Enterprise Group by 1.4% in the third quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider's stock valued at $1,483,366,000 after purchasing an additional 236,794 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider's stock valued at $1,021,475,000 after purchasing an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Public Service Enterprise Group by 8.1% in the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider's stock valued at $722,546,000 after purchasing an additional 648,140 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $78.09 on Friday. The business's fifty day simple moving average is $79.83 and its 200 day simple moving average is $80.98. The firm has a market capitalization of $38.91 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 2.93 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued 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. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.Public Service Enterprise Group's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 59.29%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 287,232 shares of the company's stock, valued at $22,119,736.32. This trade represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,249 shares of company stock worth $498,795 in the last 90 days. Company insiders own 0.19% of the company's stock.

Analyst Ratings Changes

PEG has been the topic of a number of recent research reports. Truist Financial dropped their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a report on Monday, May 18th. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Scotiabank restated a "sector perform" rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Finally, Jefferies Financial Group lowered Public Service Enterprise Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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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