KBC Group NV Buys 16,475 Shares of Public Service Enterprise Group Incorporated $PEG

KBC Group NV boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,826 shares of the utilities provider’s stock after purchasing an additional 16,475 shares during the quarter. KBC Group NV’s holdings in Public Service Enterprise Group were worth $10,024,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted its position in Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after buying an additional 248 shares during the period. Bayban purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at $33,000. Motiv8 Investments LLC bought a new stake in Public Service Enterprise Group in the 4th quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter worth $44,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PEG. 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. Jefferies Financial Group cut their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, BMO Capital Markets increased their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock 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 given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.25.

Public Service Enterprise Group Stock Up 2.8%

Shares of NYSE:PEG opened at $79.61 on Thursday. The firm has a market capitalization of $39.67 billion, a P/E ratio of 17.61, a P/E/G ratio of 2.91 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. The stock has a 50 day moving average price of $79.63 and a 200-day moving average price of $80.85. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business 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 firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company 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 anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the transaction, the chief executive officer directly owned 285,149 shares in the company, valued at $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This 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 have sold 9,284 shares of company stock valued at $746,145. 0.19% of the stock is owned by corporate insiders.

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.