Van Lanschot Kempen Investment Management N.V. Purchases 81,850 Shares of Public Service Enterprise Group Incorporated $PEG

Van Lanschot Kempen Investment Management N.V. raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 19.1% in the fourth quarter, Holdings Channel reports. The firm owned 510,061 shares of the utilities provider’s stock after acquiring an additional 81,850 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in Public Service Enterprise Group were worth $40,958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PEG. Rossby Financial LCC boosted its stake in Public Service Enterprise Group by 5.5% during the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after buying an additional 121 shares during the period. Colonial Trust Co SC boosted its stake in Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after buying an additional 121 shares during the period. JPL Wealth Management LLC boosted its stake in Public Service Enterprise Group by 0.4% during the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock worth $2,734,000 after buying an additional 122 shares during the period. Strategic Investment Advisors MI boosted its stake in Public Service Enterprise Group by 0.8% during the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock worth $1,331,000 after buying an additional 127 shares during the period. Finally, Simplicity Wealth LLC boosted its stake in Public Service Enterprise Group by 3.3% during the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after buying an additional 129 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Scotiabank reaffirmed a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Evercore raised shares of 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 research note on Thursday, March 5th. Wells Fargo & Company lifted their price objective 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. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.19.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock worth $498,795 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Up 1.1%

Shares of PEG opened at $79.63 on Friday. The firm has a market capitalization of $39.68 billion, a P/E ratio of 17.62, a P/E/G ratio of 2.97 and a beta of 0.51. 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 firm has a fifty day moving average price of $79.57 and a 200-day moving average price of $80.87.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating 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 business’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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