Swedbank AB Has $43.92 Million Position in Public Service Enterprise Group Incorporated $PEG

Swedbank AB raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.4% during the 1st quarter, HoldingsChannel reports. The fund owned 542,570 shares of the utilities provider’s stock after buying an additional 59,868 shares during the quarter. Swedbank AB’s holdings in Public Service Enterprise Group were worth $43,921,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Public Service Enterprise Group in the fourth quarter valued at $552,280,000. Bank of America Corp DE grew its holdings in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after acquiring an additional 3,469,886 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after acquiring an additional 2,189,951 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in Public Service Enterprise Group by 174.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after acquiring an additional 1,788,449 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Public Service Enterprise Group by 40.0% during the fourth quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock worth $217,483,000 after acquiring an additional 774,256 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.7%

PEG stock opened at $81.18 on Thursday. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The stock has a market cap of $40.45 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 3.08 and a beta of 0.51. The company has a fifty day moving average price of $79.53 and a two-hundred day moving average price of $80.92. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The company had revenue of $3.85 billion for 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 company’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior 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. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares of the company’s stock, valued at approximately $22,957,345.99. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,284 shares of company stock valued at $746,145 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PEG. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Finally, Truist Financial decreased their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $92.32.

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.