Martingale Asset Management L P Boosts Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Martingale Asset Management increased its stake in Public Service Enterprise Group by 85% in Q4, owning 210,154 shares worth about $16.9 million after buying an additional 96,530 shares.
• Analyst sentiment remains mixed but constructive: PEG has a consensus rating of “Moderate Buy” with an average price target of $93.19, even as some firms lowered ratings or targets while others upgraded.
• The company beat earnings expectations in its latest quarter, reporting $1.55 EPS versus $1.44 expected and revenue of $3.85 billion, while also announcing a quarterly dividend of $0.67 per share, yielding about 3.4% annually.

Martingale Asset Management L P lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 85.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 210,154 shares of the utilities provider's stock after acquiring an additional 96,530 shares during the quarter. Martingale Asset Management L P's holdings in Public Service Enterprise Group were worth $16,875,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Public Service Enterprise Group by 6.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,566,142 shares of the utilities provider's stock worth $366,661,000 after acquiring an additional 287,559 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its stake in shares of Public Service Enterprise Group by 19.1% during the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 510,061 shares of the utilities provider's stock worth $40,958,000 after acquiring an additional 81,850 shares in the last quarter. Korea Investment CORP boosted its stake in shares of Public Service Enterprise Group by 32.4% during the 4th quarter. Korea Investment CORP now owns 299,199 shares of the utilities provider's stock worth $24,026,000 after acquiring an additional 73,299 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Public Service Enterprise Group by 14.3% during the 4th quarter. Advisors Asset Management Inc. now owns 14,469 shares of the utilities provider's stock worth $1,162,000 after acquiring an additional 1,814 shares in the last quarter. Finally, CI Investments Inc. boosted its stake in shares of Public Service Enterprise Group by 39.8% during the 4th quarter. CI Investments Inc. now owns 14,941 shares of the utilities provider's stock worth $1,200,000 after acquiring an additional 4,253 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent analyst reports. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Evercore raised shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price target on the stock in a research note on Thursday, March 5th. Truist Financial decreased their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a research note on Monday, May 18th. Scotiabank reaffirmed a "sector perform" rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, March 12th. One 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 MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and an average target price of $93.19.

Public Service Enterprise Group Stock Up 1.1%

PEG stock opened at $79.63 on Friday. The company has a market cap of $39.68 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.97 and a beta of 0.51. 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 Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The firm has a 50-day moving average of $79.57 and a two-hundred day moving average of $80.87.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $0.67 dividend. 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 is presently 59.29%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Monday, June 1st. The shares were 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 owned 287,232 shares in the company, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,249 shares of company stock valued at $498,795. 0.19% of the stock is currently owned by corporate insiders.

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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