Mediolanum International Funds Ltd Invests $840,000 in Public Service Enterprise Group Incorporated $PEG

Mediolanum International Funds Ltd bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,323 shares of the utilities provider’s stock, valued at approximately $840,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEG. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. boosted its holdings in shares of Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 248 shares during the period. Bayban purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $33,000. Motiv8 Investments LLC bought a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Public Service Enterprise Group during the 4th quarter worth about $44,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Down 0.7%

Shares of NYSE:PEG opened at $77.25 on Wednesday. The firm has a market capitalization of $38.50 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 2.93 and a beta of 0.51. 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 52-week low of $76.05 and a 52-week high of $91.25. The firm has a fifty day moving average of $79.58 and a 200 day moving average of $80.86.

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

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer directly owned 285,149 shares in the company, valued at approximately $22,957,345.99. The trade was a 0.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 9,284 shares of company stock valued at $746,145. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. Truist Financial upped their target price on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. Finally, Jefferies Financial Group dropped their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.68.

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.