Motco Boosts Position in Public Service Enterprise Group Incorporated $PEG

Motco boosted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2,253.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 46,905 shares of the utilities provider’s stock after purchasing an additional 44,912 shares during the quarter. Motco’s holdings in Public Service Enterprise Group were worth $3,766,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PEG. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. raised its stake in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 248 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $44,000. TFC Financial Management Inc. raised its stake in shares of Public Service Enterprise Group by 3,000.0% during the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 570 shares during the period. Finally, Colonial Trust Co SC raised its stake in shares of Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 1.0%

Shares of NYSE:PEG opened at $78.14 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $80.66 and a 200 day simple moving average of $81.25. The firm has a market cap of $38.94 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.91 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm 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 research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 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. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is 59.29%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Finally, Scotiabank reiterated a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.19.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Friday, May 1st. The shares were 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 owned 289,315 shares in the company, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction 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 completion of the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 10,949 shares of company stock valued at $902,747. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Company 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.