Van Lanschot Kempen Investment Management N.V. Increases Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Institutional buying increased: Van Lanschot Kempen Investment Management N.V. raised its stake in Public Service Enterprise Group by 19.1% in the fourth quarter, bringing its position to 510,061 shares worth about $41 million. Other institutional investors also added to or initiated positions, and institutions now own 73.34% of the company.
• Analysts remain cautiously positive: Several firms adjusted ratings and price targets, with the current consensus at Moderate Buy and an average target price of $93.19. Recent moves included higher targets from Barclays and JPMorgan, while Truist and Ladenburg Thalmann trimmed their targets or ratings.
• PEG reported strong results and a dividend: The company posted quarterly EPS of $1.55, beating estimates, on revenue of $3.85 billion, also above expectations. It declared a quarterly dividend of $0.67 per share, implying a 3.4% annualized yield.

Van Lanschot Kempen Investment Management N.V. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 19.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 510,061 shares of the utilities provider's stock after purchasing an additional 81,850 shares during the period. Van Lanschot Kempen Investment Management N.V. owned approximately 0.10% of Public Service Enterprise Group worth $40,958,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted 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 buying an additional 248 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $44,000. TFC Financial Management Inc. boosted 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 buying an additional 570 shares during the period. Finally, Colonial Trust Co SC boosted 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 buying an additional 121 shares during the period. Hedge funds and other institutional investors own 73.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays increased their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a research report on Thursday, March 5th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Truist Financial dropped their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating for the company in a research report on Monday, May 18th. JPMorgan Chase & Co. raised their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, March 12th. Finally, 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 stock from $87.50 to $84.50 in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.19.

Public Service Enterprise Group Stock Up 1.1%

Shares of Public Service Enterprise Group stock opened at $79.63 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The company has a 50-day moving average of $79.57 and a 200 day moving average of $80.87. The firm has a market cap of $39.68 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.97 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm 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. 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 presently 59.29%.

Insider Activity

In related 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 value of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,249 shares of company stock valued at $498,795. 0.19% of the stock is owned by company insiders.

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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