Public Service Enterprise Group Incorporated $PEG Shares Purchased by CIBC Asset Management Inc

Key Points

• CIBC Asset Management increased its stake in Public Service Enterprise Group by 20.6% in the fourth quarter, bringing its holdings to 276,464 shares worth about $22.2 million.
• The utility reported strong quarterly earnings, with EPS of $1.55 beating estimates and revenue of $3.85 billion exceeding expectations; it also raised FY 2026 guidance to $4.28-$4.40 EPS.
• Public Service Enterprise Group declared a quarterly dividend of $0.67 per share, equal to an annualized yield of about 3.4%, while analysts currently rate the stock a consensus “Moderate Buy.”

CIBC Asset Management Inc raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 20.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 276,464 shares of the utilities provider's stock after acquiring an additional 47,178 shares during the quarter. CIBC Asset Management Inc owned approximately 0.06% of Public Service Enterprise Group worth $22,200,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $25,000. Quest 10 Wealth Builders Inc. increased its holdings in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock valued at $28,000 after buying an additional 248 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $44,000. Colonial Trust Co SC raised its stake in Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock valued at $48,000 after buying an additional 121 shares in the last quarter. Finally, TFC Financial Management Inc. lifted its holdings 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.

Public Service Enterprise Group Price Performance

PEG stock opened at $78.09 on Friday. 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 company has a market capitalization of $38.91 billion, a P/E ratio of 17.28, a PEG ratio of 2.93 and a beta of 0.51. The business has a 50 day simple moving average of $79.83 and a 200-day simple moving average of $80.98. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve 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 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period in the previous year, the company posted $1.43 EPS. The company's quarterly 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. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced 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 of this dividend is Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio is presently 59.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a report on Monday, April 13th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Wells Fargo & Company increased 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. Jefferies Financial Group cut shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. Finally, Barclays boosted their price objective on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group 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 other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated 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. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,249 shares of company stock worth $498,795 in the last three months. 0.19% of the stock is currently owned by corporate insiders.

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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