Westwood Wealth Management Purchases Shares of 28,562 Public Service Enterprise Group Incorporated $PEG

Westwood Wealth Management acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 28,562 shares of the utilities provider’s stock, valued at approximately $2,294,000. Public Service Enterprise Group accounts for 1.7% of Westwood Wealth Management’s portfolio, making the stock its 19th largest position.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Public Service Enterprise Group by 0.5% in the third quarter. Vanguard Group Inc. now owns 65,308,870 shares of the utilities provider’s stock valued at $5,450,678,000 after buying an additional 347,823 shares during the last quarter. State Street Corp raised its position in Public Service Enterprise Group by 1.0% during the 3rd quarter. State Street Corp now owns 27,598,607 shares of the utilities provider’s stock worth $2,303,380,000 after buying an additional 267,871 shares during the last quarter. Bank of America Corp DE raised its position in Public Service Enterprise Group by 1.4% during the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock worth $1,483,366,000 after buying an additional 236,794 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Public Service Enterprise Group by 8.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock valued at $722,546,000 after acquiring an additional 648,140 shares during the period. Finally, Capital Research Global Investors lifted its stake in Public Service Enterprise Group by 6.2% during the 3rd quarter. Capital Research Global Investors now owns 8,132,936 shares of the utilities provider’s stock valued at $678,775,000 after acquiring an additional 477,387 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was 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 in the company, valued at approximately $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total value of $174,263.78. Following the transaction, the chief executive officer owned 292,889 shares in the company, valued at $24,503,093.74. This represents a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PEG. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. UBS Group decreased their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Wells Fargo & Company increased their price target on 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. Evercore upgraded 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 note on Thursday, March 5th. Finally, Barclays boosted their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $92.88.

Public Service Enterprise Group Stock Performance

PEG opened at $80.47 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60. The firm has a fifty day moving average price of $82.68 and a 200 day moving average price of $81.79. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The stock has a market cap of $40.13 billion, a P/E ratio of 19.07, a P/E/G ratio of 2.64 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The firm 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 is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, March 10th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group’s payout ratio is 63.51%.

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.