Public Service Enterprise Group Incorporated $PEG Stock Position Raised by Saudi Central Bank

Saudi Central Bank increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 89.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 34,912 shares of the utilities provider’s stock after purchasing an additional 16,488 shares during the period. Saudi Central Bank’s holdings in Public Service Enterprise Group were worth $2,833,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on PEG. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. Citigroup lowered 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 research report on Wednesday, August 5th. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company lowered their price objective on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $89.43.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Kim Hanemann sold 3,035 shares of the business’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 value of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% 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. In the last quarter, insiders have sold 15,201 shares of company stock valued at $1,172,339. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Down 0.2%

Shares of PEG stock opened at $73.57 on Tuesday. The firm’s fifty day simple moving average is $77.04 and its 200 day simple moving average is $79.62. Public Service Enterprise Group Incorporated has a 1 year low of $72.53 and a 1 year high of $87.63. 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 firm has a market capitalization of $36.67 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.50.

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

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.6%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.67%.

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.