Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases New Position in Public Service Enterprise Group Incorporated $PEG

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 7,077 shares of the utilities provider’s stock, valued at approximately $568,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $903,000. AMF Tjanstepension AB increased its position in Public Service Enterprise Group by 30.8% during the fourth quarter. AMF Tjanstepension AB now owns 456,455 shares of the utilities provider’s stock worth $36,653,000 after buying an additional 107,474 shares during the period. ProShare Advisors LLC lifted its stake in Public Service Enterprise Group by 8.2% in the fourth quarter. ProShare Advisors LLC now owns 94,259 shares of the utilities provider’s stock valued at $7,569,000 after buying an additional 7,132 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Public Service Enterprise Group by 5.2% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,722 shares of the utilities provider’s stock valued at $1,262,000 after buying an additional 778 shares during the last quarter. Finally, Entrust Financial LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $288,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were 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 of the company’s stock, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the sale, the chief executive officer 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 position. 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 quarter, insiders have sold 10,949 shares of company stock worth $902,747. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price target for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. BMO Capital Markets raised their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, April 13th. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Finally, Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note 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 issued a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $93.19.

Public Service Enterprise Group Trading Up 0.6%

NYSE:PEG opened at $78.56 on Friday. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock’s 50 day simple moving average is $80.56 and its 200-day simple moving average is $81.23. The firm has a market cap of $39.15 billion, a P/E ratio of 17.38, a PEG ratio of 2.94 and a beta of 0.53.

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 for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion for 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%. Public Service Enterprise Group’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

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.