Hsbc Holdings PLC Buys Shares of 1,390,871 Public Service Enterprise Group Incorporated $PEG

Hsbc Holdings PLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,390,871 shares of the utilities provider’s stock, valued at approximately $113,132,000. Hsbc Holdings PLC owned 0.28% of Public Service Enterprise Group at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC grew its stake in shares of Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after purchasing an additional 940 shares during the period. Woodline Partners LP grew its position in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after buying an additional 12,172 shares during the period. Cresset Asset Management LLC grew its position in Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after buying an additional 1,040 shares during the period. Jump Financial LLC increased its holdings in Public Service Enterprise Group by 70.4% during the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock valued at $1,070,000 after buying an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in Public Service Enterprise Group by 3.0% in the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after acquiring an additional 1,649 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $73.29 on Wednesday. The business’s 50-day simple moving average is $78.44 and its two-hundred day simple moving average is $80.26. Public Service Enterprise Group Incorporated has a 52 week low of $72.53 and a 52 week high of $87.63. The stock has a market cap of $36.53 billion, a PE ratio of 18.23, a P/E/G ratio of 2.77 and a beta of 0.51. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm’s revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is 66.67%.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer owned 283,656 shares in the company, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 17,284 shares of company stock valued at $1,332,751. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEG. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Jefferies Financial Group reduced their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Citigroup decreased their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $89.43.

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.