18,543 Shares in Public Service Enterprise Group Incorporated $PEG Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,543 shares of the utilities provider’s stock, valued at approximately $1,505,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Entropy Technologies LP boosted its holdings in shares of Public Service Enterprise Group by 115.6% in the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock valued at $1,985,000 after purchasing an additional 13,253 shares during the last quarter. Kestra Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 26.3% in the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock worth $5,593,000 after buying an additional 14,406 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in Public Service Enterprise Group by 120.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock valued at $5,108,000 after acquiring an additional 34,415 shares during the last quarter. Elevation Point Wealth Partners LLC grew its position in Public Service Enterprise Group by 135.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock valued at $1,756,000 after acquiring an additional 12,468 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC increased its stake in Public Service Enterprise Group by 38.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock worth $156,305,000 after acquiring an additional 536,363 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PEG shares. Citigroup reduced their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Jefferies Financial Group dropped their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $90.23.

Public Service Enterprise Group Stock Performance

PEG opened at $75.70 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The business’s 50 day moving average is $79.01 and its 200-day moving average is $80.52. The stock has a market cap of $37.73 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.86 and a beta of 0.51. Public Service Enterprise Group Incorporated has a twelve month low of $74.20 and a twelve month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, analysts predict that Public Service Enterprise Group Incorporated will post 4.36 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 Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.67%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% 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. In the last 90 days, insiders have sold 17,284 shares of company stock valued at $1,332,751. Company insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.