Phoenix Financial Ltd. Invests $2.01 Million in Public Service Enterprise Group Incorporated $PEG

Key Points

• Phoenix Financial Ltd. opened a new position in Public Service Enterprise Group, buying 25,000 shares worth about $2.01 million in the fourth quarter.
• The utility reported strong quarterly results, with EPS of $1.55 beating estimates and revenue of $3.85 billion, up 19.4% year over year.
• Public Service Enterprise Group also declared a quarterly dividend of $0.67 per share, equal to an annualized yield of about 3.5%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $93.42.

Phoenix Financial Ltd. bought a new position 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. The firm bought 25,000 shares of the utilities provider's stock, valued at approximately $2,008,000.

Several other hedge funds also recently made changes to their positions in PEG. Bank of America Corp DE grew its position in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Public Service Enterprise Group by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock worth $5,420,155,000 after acquiring an additional 2,189,951 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Public Service Enterprise Group by 174.9% in 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 acquiring an additional 1,788,449 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Public Service Enterprise Group by 9.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider's stock worth $674,218,000 after acquiring an additional 715,051 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in shares of Public Service Enterprise Group by 43.2% in the 3rd quarter. Van ECK Associates Corp now owns 1,934,129 shares of the utilities provider's stock worth $161,423,000 after acquiring an additional 583,773 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Trading Down 1.6%

NYSE:PEG opened at $76.51 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $76.09 and a 12-month high of $91.25. The firm has a market capitalization of $38.12 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.93 and a beta of 0.53. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The business has a 50 day simple moving average of $81.04 and a 200 day simple moving average of $81.33.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter in the previous year, the firm posted $1.43 EPS. The business's revenue for the quarter 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. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's payout ratio is 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was 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 in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total value of $169,160.43. Following the transaction, the chief executive officer owned 289,315 shares of the company's stock, valued at $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. Insiders have sold a total of 10,949 shares of company stock valued at $902,747 in the last quarter. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PEG. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Evercore upgraded 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 upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Barclays boosted their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a research report on Thursday, March 5th. Finally, Scotiabank restated a "sector perform" rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.42.

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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