Verition Fund Management LLC Grows Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Verition Fund Management LLC lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 427.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 374,489 shares of the utilities provider’s stock after buying an additional 303,526 shares during the period. Verition Fund Management LLC owned approximately 0.08% of Public Service Enterprise Group worth $30,071,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PEG. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. increased its position 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 worth $28,000 after purchasing an additional 248 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $44,000. Finally, Colonial Trust Co SC boosted its position in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer owned 287,232 shares in the company, valued at $22,119,736.32. This represents a 0.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,249 shares of company stock worth $498,795. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEG. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $87.50 to $84.50 in a research report on Friday, March 13th. Weiss Ratings lowered 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 reduced their target price 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. Wells Fargo & Company boosted their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets upped their price target on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $79.63 on Monday. The firm has a market cap of $39.68 billion, a PE ratio of 17.62, a P/E/G ratio of 3.00 and a beta of 0.51. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve month high of $91.25. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average price of $79.57 and a 200 day moving average price of $80.86.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating 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 company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the company earned $1.43 earnings per share. Public Service Enterprise Group’s quarterly 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. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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