Public Service Enterprise Group Incorporated $PEG Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its stake in Public Service Enterprise Group by 7.5% in the fourth quarter, buying 33,806 additional shares and bringing its total holdings to 482,702 shares valued at about $38.8 million.
• Analysts remain moderately bullish on PEG, with an average rating of “Moderate Buy” and a consensus price target of $93.19. Recent calls included target increases from Wells Fargo and an upgrade from Evercore, though some firms still rate the stock a hold.
• The company beat quarterly earnings expectations, reporting $1.55 EPS on revenue of $3.85 billion, both above estimates. PEG also reaffirmed its dividend, paying $0.67 per share quarterly, or $2.68 annually, for a yield of 3.4%.

Swedbank AB raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 482,702 shares of the utilities provider's stock after purchasing an additional 33,806 shares during the period. Swedbank AB owned 0.10% of Public Service Enterprise Group worth $38,761,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB increased its position in shares of Public Service Enterprise Group by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider's stock valued at $182,759,000 after purchasing an additional 504,632 shares during the last quarter. Assetmark Inc. increased its position in shares of Public Service Enterprise Group by 4.6% in the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider's stock valued at $74,609,000 after purchasing an additional 38,949 shares during the last quarter. Greenland Capital Management LP increased its position in shares of Public Service Enterprise Group by 238.9% in the 3rd quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider's stock valued at $5,820,000 after purchasing an additional 49,157 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Public Service Enterprise Group by 38.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider's stock valued at $75,572,000 after purchasing an additional 252,718 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Public Service Enterprise Group by 13.0% in the 3rd quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider's stock valued at $26,262,000 after purchasing an additional 36,100 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEG has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Scotiabank restated a "sector perform" rating and set a $92.00 target price on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. 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 note on Thursday, March 5th. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Truist Financial decreased their target price on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating for the company in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $93.19.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer directly owned 289,315 shares of the company's stock, valued at approximately $23,495,271.15. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares of the company's stock, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 10,949 shares of company stock valued at $902,747 over the last three months. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

PEG stock opened at $79.61 on Monday. The business has a 50 day moving average price of $80.51 and a 200 day moving average price of $81.22. The stock has a market cap of $39.67 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 2.99 and a beta of 0.53. 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 quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm's revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio is presently 59.29%.

Public Service Enterprise Group Company 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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