Rockefeller Capital Management L.P. Has $27.26 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Rockefeller Capital Management L.P. increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 339,450 shares of the utilities provider’s stock after purchasing an additional 105,526 shares during the quarter. Rockefeller Capital Management L.P. owned 0.07% of Public Service Enterprise Group worth $27,258,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of PEG. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 248 shares during the period. Bayban acquired a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $33,000. Motiv8 Investments LLC bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter valued at $44,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on PEG. Weiss Ratings cut Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price target for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Truist Financial decreased their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a report on Monday, May 18th. Finally, Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Stock Up 0.9%

Public Service Enterprise Group stock opened at $80.63 on Tuesday. The company has a market cap of $40.18 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The company has a fifty day simple moving average of $79.32 and a 200 day simple moving average of $80.76. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31.

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 the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,249 shares of company stock worth $498,795 in the last 90 days. Corporate 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.