Public Service Enterprise Group Incorporated $PEG Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,901,675 shares of the utilities provider’s stock after purchasing an additional 208,228 shares during the quarter. Van ECK Associates Corp owned 0.78% of Public Service Enterprise Group worth $316,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $4,366,570,000. Bank of America Corp DE acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $1,207,400,000. Norges Bank purchased a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $552,280,000. Legal & General Group Plc purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $554,994,000. Finally, Bank of New York Mellon Corp acquired a new position in Public Service Enterprise Group during the second quarter worth $221,632,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $73.07 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.53 and a fifty-two week high of $87.63. The company has a market capitalization of $36.42 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.76 and a beta of 0.51. The stock has a fifty day moving average of $78.06 and a two-hundred day moving average of $80.12. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business’s revenue was down 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Analysts Set New Price Targets

Several analysts have weighed in on PEG shares. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. Wells Fargo & Company decreased their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Truist Financial dropped their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 13th. Finally, Citigroup cut their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $89.43.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 17,284 shares of company stock valued at $1,332,751 in the last ninety days. Insiders own 0.19% of the company’s stock.

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.