Pensionfund Sabic Purchases New Position in Public Service Enterprise Group Incorporated $PEG

Pensionfund Sabic acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,200 shares of the utilities provider’s stock, valued at approximately $1,301,000.

A number of other institutional investors have also recently added to or reduced their stakes in PEG. Nordea Investment Management AB grew its stake in Public Service Enterprise Group by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock valued at $182,759,000 after buying an additional 504,632 shares during the last quarter. JARISLOWSKY FRASER Ltd raised its holdings in Public Service Enterprise Group by 107.1% in the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock worth $85,572,000 after acquiring an additional 530,248 shares during the period. Railway Pension Investments Ltd lifted its position in Public Service Enterprise Group by 97.5% during the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after acquiring an additional 937,100 shares during the last quarter. Assetmark Inc. lifted its position in Public Service Enterprise Group by 4.6% during the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after acquiring an additional 38,949 shares during the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Public Service Enterprise Group by 18.2% during the third quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock valued at $137,155,000 after acquiring an additional 253,810 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $83.66, for a total transaction of $174,263.78. Following the completion of the sale, the chief executive officer directly owned 292,889 shares in the company, valued at approximately $24,503,093.74. The trade was a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.4%

Shares of PEG opened at $80.13 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. The stock has a market cap of $39.97 billion, a PE ratio of 18.99, a PEG ratio of 2.60 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $91.25. The stock has a 50 day simple moving average of $82.61 and a 200-day simple moving average of $81.80.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. Public Service Enterprise Group’s quarterly revenue was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. 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 63.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PEG. JPMorgan Chase & Co. lifted their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. 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. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target on the stock in a research report on Thursday, March 5th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $87.50 to $84.50 in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $92.88.

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.