Norges Bank Takes $552.28 Million Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Public Service Enterprise Group, buying 6,877,714 shares valued at about $552.28 million and representing 1.38% of the company.
• PEG reported strong quarterly results, with EPS of $1.55 beating estimates of $1.44 and revenue of $3.85 billion topping forecasts; the company also raised its FY2026 EPS guidance to 4.280-4.400.
• The utility announced a quarterly dividend of $0.67 per share, payable June 30, implying an annualized yield of about 3.4%.

Norges Bank bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,877,714 shares of the utilities provider's stock, valued at approximately $552,280,000. Norges Bank owned 1.38% of Public Service Enterprise Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Bank of America Corp DE lifted its stake in Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares during the period. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock worth $5,420,155,000 after purchasing an additional 2,189,951 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Public Service Enterprise Group by 174.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider's stock worth $225,704,000 after purchasing an additional 1,788,449 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider's stock valued at $674,218,000 after acquiring an additional 715,051 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Public Service Enterprise Group by 43.2% during the 3rd quarter. Van ECK Associates Corp now owns 1,934,129 shares of the utilities provider's stock valued at $161,423,000 after acquiring an additional 583,773 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PEG shares. JPMorgan Chase & Co. increased their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Evercore raised shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 target price for the company in a research report on Thursday, March 5th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company boosted their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average target price of $93.19.

Public Service Enterprise Group Stock Down 0.1%

Shares of PEG 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 stock has a market capitalization of $39.14 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.96 and a beta of 0.51. 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 fifty day moving average of $80.05 and a 200-day moving average of $81.13.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the business earned $1.43 EPS. The company'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. As a group, sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Public Service Enterprise Group's dividend payout ratio is currently 59.29%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares of the company's stock, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the sale, the chief executive officer owned 289,315 shares of the company's stock, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 10,949 shares of company stock valued at $902,747. 0.19% of the stock is currently owned by corporate insiders.

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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