HighTower Advisors LLC Sells 23,979 Shares of Public Service Enterprise Group Incorporated $PEG

HighTower Advisors LLC lessened its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,985 shares of the utilities provider’s stock after selling 23,979 shares during the period. HighTower Advisors LLC’s holdings in Public Service Enterprise Group were worth $13,489,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Public Service Enterprise Group by 28.6% in the fourth quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock worth $182,759,000 after purchasing an additional 504,632 shares in the last quarter. Assetmark Inc. increased its stake in shares of Public Service Enterprise Group by 4.6% in the 3rd quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock valued at $74,609,000 after acquiring an additional 38,949 shares in the last quarter. Greenland Capital Management LP lifted its position in shares of Public Service Enterprise Group by 238.9% during the 3rd quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider’s stock valued at $5,820,000 after acquiring an additional 49,157 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Public Service Enterprise Group by 38.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider’s stock valued at $75,572,000 after acquiring an additional 252,718 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Public Service Enterprise Group by 13.0% during the third quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock worth $26,262,000 after acquiring an additional 36,100 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business’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 transaction, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $81.21, for a total transaction of $169,160.43. Following the transaction, the chief executive officer directly owned 289,315 shares of the company’s stock, valued at $23,495,271.15. This represents a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 10,949 shares of company stock worth $902,747. Insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a report on Thursday, March 5th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Finally, Wells Fargo & Company raised their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $79.61 on Monday. The company has a market capitalization of $39.67 billion, a PE ratio of 17.61, a PEG ratio of 2.99 and a beta of 0.53. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The stock’s 50 day moving average price is $80.51 and its 200-day moving average price is $81.22. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the company posted $1.43 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

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.