Cornerstone Planning LLC Acquires New Position in Public Service Enterprise Group Incorporated $PEG

Cornerstone Planning LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, HoldingsChannel.com reports. The fund bought 10,612 shares of the utilities provider’s stock, valued at approximately $856,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Entropy Technologies LP increased its holdings in Public Service Enterprise Group by 115.6% during the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock worth $1,985,000 after purchasing an additional 13,253 shares during the period. Nordea Investment Management AB boosted its stake in shares of Public Service Enterprise Group by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock valued at $182,759,000 after buying an additional 504,632 shares during the period. Greenland Capital Management LP boosted its stake in shares of Public Service Enterprise Group by 238.9% in the 3rd quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider’s stock valued at $5,820,000 after buying an additional 49,157 shares during the period. Pensionfund Sabic acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $1,301,000. Finally, Union Bancaire Privee UBP SA acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $1,407,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction 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 in the company, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,249 shares of company stock valued at $498,795. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Truist Financial lowered 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. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Jefferies Financial Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.19.

Public Service Enterprise Group Trading Down 0.0%

PEG opened at $79.88 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The company has a market cap of $39.80 billion, a P/E ratio of 17.67, a PEG ratio of 3.01 and a beta of 0.51. The business’s 50-day simple moving average is $79.39 and its 200-day simple moving average is $80.76.

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, topping the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

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.