Public Service Enterprise Group Incorporated $PEG Shares Sold by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets reduced its stake in Public Service Enterprise Group by 10.6% in the fourth quarter, selling 63,001 shares and leaving it with 529,085 shares valued at about $42.5 million.
• Public Service Enterprise Group reported better-than-expected quarterly results, with EPS of $1.55 versus the $1.44 estimate and revenue of $3.85 billion, up 19.4% year over year.
• The company declared a quarterly dividend of $0.67 per share, implying an annualized dividend of $2.68 and a yield of 3.4%; the dividend will be paid on June 30 to shareholders of record on June 9.

BNP Paribas Financial Markets lowered its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 10.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,085 shares of the utilities provider's stock after selling 63,001 shares during the period. BNP Paribas Financial Markets owned about 0.11% of Public Service Enterprise Group worth $42,486,000 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 Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 248 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $44,000. TFC Financial Management Inc. increased its holdings in shares of Public Service Enterprise Group by 3,000.0% in the 4th quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 570 shares during the last quarter. Finally, Colonial Trust Co SC increased its holdings in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock valued at $48,000 after acquiring an additional 121 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Trading Down 0.5%

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

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 for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the business posted $1.43 EPS. The company'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. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend 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 59.29%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays increased their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a report on Thursday, March 5th. Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Jefferies Financial Group downgraded Public Service Enterprise Group from a "buy" rating to a "hold" rating and dropped their price objective for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. Scotiabank reiterated a "sector perform" rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. One research 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. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average target price of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. This trade represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 6,249 shares of company stock valued at $498,795. Company insiders own 0.19% of the company's stock.

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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