Public Service Enterprise Group Incorporated $PEG Position Increased by Legal & General Group Plc

Key Points

• Legal & General raised its stake in Public Service Enterprise Group (NYSE:PEG) by 5.8% to 7,095,987 shares—about 1.42% of the company—valued at roughly $592.2 million, and institutional investors now own 73.34% of the stock.
• PEG slightly beat quarterly expectations, reporting $0.72 EPS vs. $0.71 expected and revenue of $2.92 billion (up 18.3% year-over-year), while management set FY2026 guidance of $4.280–4.400 EPS versus analysts' average forecast of 3.67.
• The company raised its quarterly dividend to $0.67 (annualized $2.68, ~3.2% yield) and meanwhile insiders modestly trimmed holdings (insiders now own 0.19%); analysts' consensus is a "Moderate Buy" with a $92.73 price target.

Legal & General Group Plc grew its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,095,987 shares of the utilities provider's stock after purchasing an additional 386,524 shares during the period. Legal & General Group Plc owned 1.42% of Public Service Enterprise Group worth $592,231,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group during the second quarter worth about $25,000. Cedar Mountain Advisors LLC bought a new position in Public Service Enterprise Group in the third quarter worth about $27,000. Steigerwald Gordon & Koch Inc. bought a new position in Public Service Enterprise Group in the third quarter worth about $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Public Service Enterprise Group in the third quarter valued at approximately $43,000. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Scotiabank reaffirmed a "sector perform" rating and set a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $85.00 price target (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Barclays upped their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 5th. Finally, Argus raised Public Service Enterprise Group to a "strong-buy" rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $92.73.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $83.28 on Wednesday. The firm's 50 day moving average is $81.94 and its two-hundred day moving average is $81.78. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The firm has a market capitalization of $41.53 billion, a P/E ratio of 19.73, a PEG ratio of 2.74 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.01. The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The business's revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Public Service Enterprise Group's previous quarterly dividend of $0.63. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 59.72%.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 4,700 shares of the firm'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 transaction, the senior vice president directly owned 28,481 shares of the company's stock, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the sale, the chief executive officer owned 292,889 shares in the company, valued at approximately $24,503,093.74. This represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.19% of the company's stock.

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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