Y Intercept Hong Kong Ltd Boosts Stock Position in Public Service Enterprise Group Incorporated $PEG

Y Intercept Hong Kong Ltd raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 120.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,102 shares of the utilities provider’s stock after purchasing an additional 34,415 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Public Service Enterprise Group were worth $5,108,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PEG. Norges Bank acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at $552,280,000. Bank of America Corp DE grew its holdings in Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares in the last quarter. Vanguard Group Inc. grew its holdings in Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after acquiring an additional 2,189,951 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Public Service Enterprise Group by 174.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after purchasing an additional 1,788,449 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Public Service Enterprise Group by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock worth $217,483,000 after purchasing an additional 774,256 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer directly owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% 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. Insiders have sold 9,284 shares of company stock valued at $746,145 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Truist Financial lowered their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a report on Monday, May 18th. Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. JPMorgan Chase & Co. upped their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Finally, Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.32.

Public Service Enterprise Group Stock Down 0.1%

Shares of NYSE:PEG opened at $81.55 on Friday. The company’s fifty day moving average is $79.48 and its two-hundred day moving average is $80.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The stock has a market capitalization of $40.64 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 3.07 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business posted $1.43 EPS. The company’s quarterly revenue was up 19.4% on a year-over-year basis. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 59.29%.

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.