DNB Asset Management AS Has $31.38 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

DNB Asset Management AS boosted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 25.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 390,808 shares of the utilities provider’s stock after buying an additional 80,016 shares during the quarter. DNB Asset Management AS’s holdings in Public Service Enterprise Group were worth $31,382,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PEG. Empowered Funds LLC grew its holdings in Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after acquiring an additional 940 shares during the period. Woodline Partners LP grew its holdings in Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after acquiring an additional 12,172 shares during the period. Cresset Asset Management LLC grew its holdings in Public Service Enterprise Group by 27.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after acquiring an additional 1,040 shares during the period. Jump Financial LLC grew its holdings in Public Service Enterprise Group by 70.4% during the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after acquiring an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after acquiring an additional 1,649 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PEG. BMO Capital Markets lifted their target price on shares of 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. Truist Financial initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, April 21st. They issued a “hold” rating and a $91.00 price target for the company. Jefferies Financial Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price target for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a report on Thursday, March 5th. Finally, LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $87.50 to $84.50 in a report on Friday, March 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.42.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $76.51 on Friday. The firm has a market capitalization of $38.12 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12-month low of $76.09 and a 12-month high of $91.25. The firm has a fifty day moving average of $81.04 and a 200-day moving average of $81.33.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. 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, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the transaction, the chief executive officer directly owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 10,949 shares of company stock valued at $902,747. Company insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.