Public Service Enterprise Group Incorporated $PEG Shares Acquired by Martingale Asset Management L P

Martingale Asset Management L P lifted its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 85.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 210,154 shares of the utilities provider’s stock after acquiring an additional 96,530 shares during the quarter. Martingale Asset Management L P’s holdings in Public Service Enterprise Group were worth $16,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEG. Empowered Funds LLC increased its holdings in shares of Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after buying an additional 940 shares during the last quarter. Woodline Partners LP increased its holdings in shares of Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after buying an additional 12,172 shares during the last quarter. Cresset Asset Management LLC increased its holdings in shares of Public Service Enterprise Group by 27.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after buying an additional 1,040 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Public Service Enterprise Group by 70.4% during the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after buying an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after buying an additional 1,649 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEG shares. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. Wells Fargo & Company raised their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. 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. Truist Financial cut 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.19.

Public Service Enterprise Group Stock Up 1.1%

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

Public Service Enterprise Group (NYSE:PEG) last posted 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 net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the firm earned $1.43 EPS. The firm’s revenue for the quarter 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. Research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share 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. Investors of record on Tuesday, June 9th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on 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 owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 currently owned by company insiders.

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.