Phoenix Financial Ltd. Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Phoenix Financial Ltd. purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 25,000 shares of the utilities provider’s stock, valued at approximately $2,008,000.

A number of other institutional investors also recently added to or reduced their stakes in PEG. Bank of America Corp DE boosted its position in Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares during the period. Vanguard Group Inc. lifted its holdings 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 buying an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Public Service Enterprise Group by 174.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after buying an additional 1,788,449 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Public Service Enterprise Group by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after buying an additional 715,051 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Public Service Enterprise Group by 43.2% in the third quarter. Van ECK Associates Corp now owns 1,934,129 shares of the utilities provider’s stock valued at $161,423,000 after buying an additional 583,773 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PEG shares. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. BMO Capital Markets upped their price objective 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. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a report on Thursday, March 5th. Barclays upped their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One equities research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.42.

Public Service Enterprise Group Price Performance

PEG stock opened at $76.51 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a one year low of $76.09 and a one year high of $91.25. The firm has a market capitalization of $38.12 billion, a PE ratio of 16.93, a P/E/G ratio of 2.93 and a beta of 0.53. The firm has a 50-day moving average of $81.04 and a two-hundred day moving average of $81.33.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data 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. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This represents a 14.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Friday, May 1st. The stock was 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 directly owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 10,949 shares of company stock valued at $902,747. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group 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.