Public Service Enterprise Group Incorporated $PEG Stock Position Lifted by Cbre Investment Management Listed Real Assets LLC

Key Points

• Cbre Investment Management Listed Real Assets LLC boosted its stake in Public Service Enterprise Group by 38% in the fourth quarter, bringing its holdings to 1,946,512 shares worth about $156.3 million.
• Public Service Enterprise Group reported better-than-expected quarterly results, with EPS of $1.55 versus estimates of $1.44 and revenue of $3.85 billion versus expectations of $3.35 billion.
• The company also declared a quarterly dividend of $0.67 per share, equal to an annualized yield of about 3.5%, while analysts currently rate the stock a consensus Moderate Buy with an average target price of $93.19.

Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 38.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,946,512 shares of the utilities provider's stock after purchasing an additional 536,363 shares during the quarter. Public Service Enterprise Group makes up about 2.3% of Cbre Investment Management Listed Real Assets LLC's holdings, making the stock its 10th biggest holding. Cbre Investment Management Listed Real Assets LLC owned about 0.39% of Public Service Enterprise Group worth $156,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PEG. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. increased its position in 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 valued at $28,000 after purchasing an additional 248 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Public Service Enterprise Group during the 4th quarter valued at $44,000. TFC Financial Management Inc. increased its position 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 valued at $47,000 after purchasing an additional 570 shares during the period. Finally, Colonial Trust Co SC increased its position in Public Service Enterprise Group by 26.8% during the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 121 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer 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 position. The sale was disclosed in a 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. In the last quarter, insiders have sold 6,249 shares of company stock valued at $512,647. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $76.71 on Tuesday. The stock has a market cap of $38.23 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.96 and a beta of 0.51. The firm's 50-day moving average is $79.93 and its 200 day moving average is $81.08. 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 debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly 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 for 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%. Public Service Enterprise Group's 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 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group's payout ratio is presently 59.29%.

Analyst Upgrades and Downgrades

PEG has been the topic of a number of research analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $87.50 to $84.50 in a report on Friday, March 13th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, BMO Capital Markets boosted their target price on shares of 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. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $93.19.

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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