Magnetar Financial LLC Purchases Shares of 42,140 Public Service Enterprise Group Incorporated $PEG

Key Points

• Magnetar Financial LLC opened a new position in Public Service Enterprise Group (NYSE:PEG), buying 42,140 shares in the 3rd quarter valued at roughly $3.52 million.
• PSEG raised its quarterly dividend to $0.67 (from $0.63), an annualized $2.68 payout representing a 3.3% yield, with an ex-dividend date of March 10 and payment on March 31.
• The company beat quarterly expectations with $0.72 EPS (vs. $0.71 expected) and $2.92B revenue (vs. $2.68B), guided FY2026 EPS to $4.28–$4.40, and holds a MarketBeat consensus rating of "Moderate Buy" with a $92.73 target.

Magnetar Financial LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 42,140 shares of the utilities provider's stock, valued at approximately $3,517,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock valued at $831,000 after purchasing an additional 940 shares during the last quarter. Woodline Partners LP grew its stake in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider's stock worth $3,464,000 after buying an additional 12,172 shares during the last quarter. Savant Capital LLC grew its stake in Public Service Enterprise Group by 7.5% during the second quarter. Savant Capital LLC now owns 11,215 shares of the utilities provider's stock worth $944,000 after buying an additional 786 shares during the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $270,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Public Service Enterprise Group by 2,187.5% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,375 shares of the utilities provider's stock valued at $9,628,000 after acquiring an additional 109,375 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a "neutral" rating to a "buy" rating and set a $87.50 target price on the stock in a report on Wednesday, January 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Scotiabank reissued a "sector perform" rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Evercore upgraded 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 report on Thursday, March 5th. Finally, Barclays raised 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 note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of "Moderate Buy" and a consensus target price of $92.73.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $82.33 on Thursday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60. The firm has a market cap of $41.06 billion, a P/E ratio of 19.51, a P/E/G ratio of 2.71 and a beta of 0.60. The firm has a 50 day simple moving average of $81.98 and a 200 day simple moving average of $81.79. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. The firm had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. Public Service Enterprise Group's revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, March 10th. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group's dividend payout ratio is presently 63.51%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, 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 completion of the sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $83.66, for a total value of $174,263.78. Following the sale, the chief executive officer directly owned 292,889 shares of the company's stock, valued at $24,503,093.74. This represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.19% of the company's stock.

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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