MQS Management LLC Makes New $704,000 Investment in Public Service Enterprise Group Incorporated $PEG

MQS Management LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,695 shares of the utilities provider’s stock, valued at approximately $704,000.

Several other institutional investors also recently made changes to their positions in the stock. Entropy Technologies LP increased its holdings in Public Service Enterprise Group by 115.6% in the fourth quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock valued at $1,985,000 after buying an additional 13,253 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Public Service Enterprise Group by 28.6% during the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock worth $182,759,000 after acquiring an additional 504,632 shares in the last quarter. Pensionfund Sabic acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $1,301,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $1,407,000. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in Public Service Enterprise Group by 38.0% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock valued at $156,305,000 after purchasing an additional 536,363 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the transaction, the chief executive officer owned 287,232 shares of the company’s stock, valued at $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. The trade was a 2.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,201 shares of company stock worth $578,442 over the last ninety days. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $81.25 on Wednesday. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The stock has a market cap of $40.49 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 3.10 and a beta of 0.51. The business has a fifty day moving average of $79.36 and a 200-day moving average of $80.87. 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 (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PEG. Weiss Ratings cut Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Truist Financial dropped their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective on the stock in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.19.

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.