Pensionfund Sabic Purchases New Shares in Public Service Enterprise Group Incorporated $PEG

Pensionfund Sabic acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 16,200 shares of the utilities provider’s stock, valued at approximately $1,301,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the second quarter valued at about $25,000. Cedar Mountain Advisors LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth about $27,000. Steigerwald Gordon & Koch Inc. acquired a new position in Public Service Enterprise Group during the 3rd quarter worth about $38,000. Finally, CGC Financial Services LLC grew its holdings in Public Service Enterprise Group by 98.5% during the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. 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. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Scotiabank reissued a “sector perform” rating and set a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Finally, Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.88.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the transaction, the chief executive officer owned 292,889 shares of the company’s stock, valued at $24,503,093.74. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the transaction, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This represents a 14.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Performance

PEG stock opened at $80.13 on Wednesday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. The company has a market cap of $39.97 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 2.60 and a beta of 0.60. The business’s fifty day moving average is $82.61 and its 200-day moving average is $81.80.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s dividend payout ratio is presently 63.51%.

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.