Public Service Enterprise Group Incorporated $PEG Shares Bought by World Investment Advisors

Key Points

• World Investment Advisors increased its stake in Public Service Enterprise Group by 36.5% in Q4, bringing its holdings to 82,943 shares worth about $6.66 million.
• PEG reported better-than-expected earnings and revenue for the latest quarter, with EPS of $1.55 versus $1.44 expected and revenue of $3.85 billion versus $3.35 billion expected.
• The company declared a quarterly dividend of $0.67 per share, implying an annualized payout of $2.68 and a dividend yield of 3.5%.

World Investment Advisors raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 36.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 82,943 shares of the utilities provider's stock after purchasing an additional 22,193 shares during the quarter. World Investment Advisors' holdings in Public Service Enterprise Group were worth $6,660,000 as of its most recent filing with the SEC.

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

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $77.19 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock has a market cap of $38.47 billion, a P/E ratio of 17.08, a PEG ratio of 2.97 and a beta of 0.53. The company has a 50-day moving average of $81.31 and a two-hundred day moving average of $81.41. Public Service Enterprise Group Incorporated has a 12-month low of $76.00 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS 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 given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group's payout ratio is currently 59.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEG. Scotiabank reissued a "sector perform" rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. Argus raised shares of Public Service Enterprise Group to a "strong-buy" rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. One research 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 has a consensus rating of "Moderate Buy" and an average target price of $93.42.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the transaction, the chief executive officer owned 289,315 shares of the company's stock, valued at $23,495,271.15. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the business's stock in a transaction that occurred on Tuesday, March 3rd. The shares were 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 directly owned 28,481 shares of the company's stock, valued at approximately $2,363,923. This represents a 14.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 10,949 shares of company stock valued at $902,747. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.