Nykredit A S Purchases New Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• Nykredit A S purchased 218,821 shares of Public Service Enterprise Group, worth approximately $17.76 million, while institutional investors collectively own 73.34% of PEG.
• Analyst sentiment is mixed but leans cautious: MarketBeat reports a consensus “Hold” rating and an average price target of $89.43, with several analysts recently cutting their targets.
• PEG reported quarterly EPS of $0.86, exceeding estimates of $0.80, but revenue fell 8.9% year over year to $2.55 billion. The company declared a quarterly dividend of $0.67 per share, equating to a 3.6% annualized yield.

Nykredit A S purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 218,821 shares of the utilities provider's stock, valued at approximately $17,760,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. AG grew its position in shares of Public Service Enterprise Group by 25.0% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 32,052 shares of the utilities provider's stock valued at $2,601,000 after buying an additional 6,414 shares during the last quarter. Atticus Wealth Management LLC lifted its position in Public Service Enterprise Group by 4.6% in the second quarter. Atticus Wealth Management LLC now owns 11,643 shares of the utilities provider's stock valued at $945,000 after acquiring an additional 507 shares during the last quarter. Symphony Financial Ltd. Co. boosted its stake in Public Service Enterprise Group by 19.2% in the second quarter. Symphony Financial Ltd. Co. now owns 4,947 shares of the utilities provider's stock valued at $407,000 after acquiring an additional 797 shares in the last quarter. Legacy Financial Advisors Inc. grew its holdings in shares of Public Service Enterprise Group by 42.2% during the second quarter. Legacy Financial Advisors Inc. now owns 5,206 shares of the utilities provider's stock worth $423,000 after purchasing an additional 1,546 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Public Service Enterprise Group during the second quarter worth about $226,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Truist Financial decreased their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Jefferies Financial Group decreased their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating for the company in a report on Monday, July 20th. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an "overweight" rating on the stock in a research report on Friday, August 21st. Finally, Weiss Ratings cut shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $89.43.

Public Service Enterprise Group Trading Down 0.3%

NYSE:PEG opened at $73.57 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $72.53 and a 12-month high of $87.63. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The stock's 50 day simple moving average is $77.21 and its 200-day simple moving average is $79.76. The firm has a market cap of $36.67 billion, a P/E ratio of 18.30, a PEG ratio of 2.78 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company's revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group's payout ratio is 66.67%.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard Thigpen sold 8,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the senior vice president directly owned 20,970 shares of the company's stock, valued at $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kim Hanemann sold 3,035 shares of the firm's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares of the company's stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 15,201 shares of company stock worth $1,172,339 over the last ninety days. 0.19% of the stock is currently owned by company 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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