Public Service Enterprise Group Incorporated $PEG Holdings Increased by Legal & General Group Plc

Legal & General Group Plc lifted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 5.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,095,987 shares of the utilities provider’s stock after acquiring an additional 386,524 shares during the period. Legal & General Group Plc’s holdings in Public Service Enterprise Group were worth $592,231,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the second quarter worth approximately $25,000. Cedar Mountain Advisors LLC bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $27,000. Steigerwald Gordon & Koch Inc. bought a new position in Public Service Enterprise Group during the 3rd quarter valued at $38,000. Finally, CGC Financial Services LLC increased its position in shares of Public Service Enterprise Group by 98.5% during the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 258 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

PEG opened at $83.28 on Wednesday. The firm has a market cap of $41.53 billion, a PE ratio of 19.73, a P/E/G ratio of 2.74 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. The business has a fifty day simple moving average of $81.94 and a 200-day simple moving average of $81.78. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the previous year, the firm earned $0.84 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up 18.3% 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, equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.2%. The ex-dividend date is Tuesday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s dividend payout ratio is presently 59.72%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PEG. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective on the stock in a research note on Thursday, March 5th. Barclays lifted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Scotiabank reissued a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $92.73.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the transaction, the chief executive officer directly owned 292,889 shares in the company, valued at $24,503,093.74. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president directly owned 28,481 shares in the company, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by insiders.

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.