Public Service Enterprise Group Incorporated $PEG Position Lifted by Sound Shore Management Inc. CT

Key Points

• Sound Shore Management increased its stake in Public Service Enterprise Group by 66.6% in the fourth quarter, making PEG its fourth-largest holding. The fund now owns 1,361,981 shares valued at about $109.4 million.
• Public Service Enterprise Group reported stronger-than-expected quarterly results, with EPS of $1.55 versus $1.44 expected and revenue of $3.85 billion, up 19.4% year over year. The company also reiterated FY 2026 guidance of 4.280-4.400 EPS.
• The company announced a quarterly dividend of $0.67 per share, payable June 30, implying an annualized yield of about 3.4%. Meanwhile, CEO Ralph A. Larossa sold 2,083 shares in a pre-arranged transaction, and analysts currently rate the stock a Moderate Buy with a consensus target price of $93.19.

Sound Shore Management Inc. CT boosted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 66.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,361,981 shares of the utilities provider's stock after acquiring an additional 544,634 shares during the period. Public Service Enterprise Group accounts for 3.5% of Sound Shore Management Inc. CT's holdings, making the stock its 4th biggest position. Sound Shore Management Inc. CT owned 0.27% of Public Service Enterprise Group worth $109,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth $25,000. Quest 10 Wealth Builders Inc. lifted its position in Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock worth $28,000 after acquiring an additional 248 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Public Service Enterprise Group during the 4th quarter valued at about $44,000. TFC Financial Management Inc. grew its holdings in Public Service Enterprise Group by 3,000.0% during the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider's stock worth $47,000 after acquiring an additional 570 shares during the period. Finally, Colonial Trust Co SC grew its stake in shares of Public Service Enterprise Group by 26.8% during the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock worth $48,000 after purchasing an additional 121 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Truist Financial cut their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating for the company in a report on Monday, May 18th. Jefferies Financial Group cut shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and dropped their price target for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Finally, Barclays increased their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business'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 sale, the chief executive officer owned 287,232 shares in the company, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,249 shares of company stock worth $498,795. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $77.90 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The company has a market cap of $38.82 billion, a P/E ratio of 17.24, a PEG ratio of 2.95 and a beta of 0.51. The firm's 50 day moving average price is $79.87 and its 200 day moving average price is $81.01.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted 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 net margin of 17.69% and a return on equity of 12.30%. The company had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the previous year, the business posted $1.43 EPS. The firm's 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. On average, research analysts forecast 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 company also recently disclosed 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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 59.29%.

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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