Swedbank AB Purchases 59,868 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Swedbank AB increased its stake in Public Service Enterprise Group by 12.4% in the first quarter, adding 59,868 shares and bringing its total holdings to 542,570 shares valued at about $43.9 million.
• Wall Street sentiment is mixed but generally positive, with several analysts adjusting ratings and price targets; the stock currently carries a consensus “Moderate Buy” and an average target price of $92.32.
• PEG posted solid quarterly results and continues paying a dividend, reporting EPS of $1.55 on revenue of $3.85 billion, while declaring a quarterly dividend of $0.67 per share for a 3.3% annualized yield.

Swedbank AB raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 542,570 shares of the utilities provider's stock after purchasing an additional 59,868 shares during the period. Swedbank AB owned 0.11% of Public Service Enterprise Group worth $43,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. grew its holdings 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 worth $28,000 after acquiring an additional 248 shares during the period. Bayban acquired a new stake in Public Service Enterprise Group during the 4th quarter worth $33,000. Motiv8 Investments LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $44,000. Institutional investors own 73.34% of the company's stock.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and cut their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a "market perform" rating in a research note on Monday, April 13th. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Jefferies Financial Group lowered Public Service Enterprise Group from a "buy" rating to a "hold" rating and cut their target price for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Finally, Wells Fargo & Company raised their target price on 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 analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and an average target price of $92.32.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the transaction, the chief executive officer directly owned 285,149 shares in the company, valued at approximately $22,957,345.99. The trade was a 0.73% decrease in their position. The sale was disclosed in a document filed 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. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares of the company's stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $81.18 on Thursday. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The firm has a market capitalization of $40.45 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 3.08 and a beta of 0.51. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The firm has a fifty day moving average of $79.53 and a 200-day moving average of $80.92.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11. The business 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 firm's revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 59.29%.

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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