Public Service Enterprise Group Incorporated $PEG Shares Bought by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB increased its stake in Public Service Enterprise Group by 30.8% in the fourth quarter, buying 107,474 additional shares and bringing its total holding to 456,455 shares worth about $36.7 million.
• Wall Street sentiment is mixed but constructive, with analysts assigning a consensus rating of “Moderate Buy” and an average price target of $93.19. Recent note changes included lowered targets from Truist and Jefferies, while Wells Fargo, Barclays, and JPMorgan slightly raised or reaffirmed their targets.
• PEG reported solid quarterly results and continues to pay a dividend, posting EPS of $1.55 versus estimates of $1.44 and revenue of $3.85 billion, up 19.4% year over year. The company also declared a quarterly dividend of $0.67 per share, implying a 3.5% yield.

AMF Tjanstepension AB raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 30.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,455 shares of the utilities provider's stock after purchasing an additional 107,474 shares during the period. AMF Tjanstepension AB owned about 0.09% of Public Service Enterprise Group worth $36,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PEG. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Quest 10 Wealth Builders Inc. raised its position in shares of 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 in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth about $43,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $44,000. Finally, TFC Financial Management Inc. grew its stake in Public Service Enterprise Group by 3,000.0% during the 4th quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider's stock worth $47,000 after buying an additional 570 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Truist Financial dropped their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a research note on Monday. Wells Fargo & Company lifted their target price on 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. Jefferies Financial Group downgraded Public Service Enterprise Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Barclays lifted their target price on 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. Finally, JPMorgan Chase & Co. lifted their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the transaction, the chief executive officer directly owned 289,315 shares of the company's stock, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value 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 represents a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 10,949 shares of company stock valued at $902,747. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Up 0.4%

Public Service Enterprise Group stock opened at $76.75 on Tuesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The company has a market cap of $38.25 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53. The stock's 50 day moving average price is $80.89 and its 200 day moving average price is $81.29.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period 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. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS 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. Investors of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.5%. Public Service Enterprise Group's payout ratio is currently 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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