World Investment Advisors Buys 22,193 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• World Investment Advisors increased its stake in Public Service Enterprise Group by 36.5% in the fourth quarter, buying 22,193 more shares and bringing its total holding to 82,943 shares worth about $6.66 million.
• Institutional interest in PEG remains strong overall, with 73.34% of the stock now owned by institutional investors, while several other firms also boosted their positions during recent quarters.
• Public Service Enterprise Group recently beat earnings expectations, reporting $1.55 EPS versus the $1.44 estimate, and it also announced a quarterly dividend of $0.67 per share for a 3.4% annualized yield.

World Investment Advisors lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 36.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,943 shares of the utilities provider's stock after buying an additional 22,193 shares during the period. World Investment Advisors' holdings in Public Service Enterprise Group were worth $6,660,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PEG. Nordea Investment Management AB raised its position in Public Service Enterprise Group by 28.6% during the fourth quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider's stock valued at $182,759,000 after purchasing an additional 504,632 shares in the last quarter. Assetmark Inc. raised its position in Public Service Enterprise Group by 4.6% during the third quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider's stock valued at $74,609,000 after purchasing an additional 38,949 shares in the last quarter. Greenland Capital Management LP raised its position in Public Service Enterprise Group by 238.9% during the third quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider's stock valued at $5,820,000 after purchasing an additional 49,157 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Public Service Enterprise Group by 38.7% during the third quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider's stock valued at $75,572,000 after purchasing an additional 252,718 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Public Service Enterprise Group by 13.0% during the third quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider's stock valued at $26,262,000 after purchasing an additional 36,100 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Evercore upgraded shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price objective for the company in a research report on Thursday, March 5th. Truist Financial lowered 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 report on Monday, May 18th. Barclays upped their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. One equities 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 289,315 shares in the company, valued at $23,495,271.15. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president owned 28,481 shares of the company's stock, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,949 shares of company stock valued at $902,747 over the last quarter. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Up 1.4%

Shares of NYSE:PEG opened at $79.61 on Friday. The company has a fifty day moving average of $80.51 and a 200-day moving average of $81.22. The company has a market capitalization of $39.67 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.99 and a beta of 0.53. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25.

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 the consensus estimate of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Public Service Enterprise Group's dividend payout ratio is 59.29%.

Public Service Enterprise Group 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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