OP Asset Management Ltd Acquires New Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• OP Asset Management opened a new position in Public Service Enterprise Group, buying 48,962 shares valued at about $3.96 million in the first quarter.
• The utility reported strong quarterly results, with EPS of $1.55 beating estimates and revenue of $3.85 billion rising 19.4% year over year; it also reiterated FY 2026 EPS guidance of 4.28 to 4.40.
• Public Service Enterprise Group declared a quarterly dividend of $0.67 per share, implying an annualized yield of about 3.2%, while analysts currently rate the stock a Moderate Buy with an average target price of $93.19.

OP Asset Management Ltd acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 48,962 shares of the utilities provider's stock, valued at approximately $3,963,000.

A number of other institutional investors also recently bought and sold shares of PEG. Norges Bank purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $552,280,000. Bank of America Corp DE raised its position in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock valued at $1,476,230,000 after buying an additional 3,469,886 shares during the period. Vanguard Group Inc. raised its position in shares of 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 valued at $5,420,155,000 after buying an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA lifted its holdings in Public Service Enterprise Group by 174.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider's stock valued at $225,704,000 after acquiring an additional 1,788,449 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Public Service Enterprise Group by 40.0% in the fourth quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider's stock valued at $217,483,000 after acquiring an additional 774,256 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.0%

Shares of NYSE PEG opened at $83.50 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The business's 50 day moving average is $79.36 and its two-hundred day moving average is $80.81. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The firm has a market cap of $41.61 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 3.11 and a beta of 0.51.

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 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the business posted $1.43 earnings per share. The company's quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced 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 3.2%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 59.29%.

Insider Activity

In other news, COO Kim C. Hanemann sold 3,035 shares of the 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 sale, the chief operating officer owned 98,815 shares of the company's stock, valued at approximately $8,102,830. This represents a 2.98% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares of the company's stock, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 9,284 shares of company stock valued at $747,665. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Jefferies Financial Group cut Public Service Enterprise Group from a "buy" rating to a "hold" rating and cut their target price for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Barclays increased their price target on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. JPMorgan Chase & Co. raised their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Finally, BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a report on Monday, April 13th. One research 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $93.19.

About Public Service Enterprise Group

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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