Cullen Investment Group LTD. Sells 34,455 Shares of Public Service Enterprise Group Incorporated $PEG

Cullen Investment Group LTD. cut its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 48.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,567 shares of the utilities provider’s stock after selling 34,455 shares during the period. Cullen Investment Group LTD.’s holdings in Public Service Enterprise Group were worth $2,876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEG. Twin Peaks Wealth Advisors LLC bought a new position in Public Service Enterprise Group during the 2nd quarter worth about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Cedar Mountain Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the third quarter valued at about $27,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Public Service Enterprise Group in the third quarter worth $38,000. Finally, CGC Financial Services LLC increased its position in shares of Public Service Enterprise Group by 98.5% in the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 258 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of research reports. Argus raised Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. increased their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, February 27th. Barclays upped their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $92.88.

Public Service Enterprise Group Stock Performance

PEG opened at $81.08 on Thursday. The firm has a fifty day moving average price of $82.66 and a 200 day moving average price of $81.80. 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 market cap of $40.44 billion, a P/E ratio of 19.21, a P/E/G ratio of 2.61 and a beta of 0.60. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter in the previous year, the company earned $0.84 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm 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 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 is Tuesday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s dividend payout ratio is currently 63.51%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the completion of the transaction, the chief executive officer owned 292,889 shares in the company, valued at $24,503,093.74. This represents a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was 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 trade represents a 14.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is currently owned by insiders.

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.