Capital Research Global Investors Lowers Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Capital Research Global Investors lowered its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,624,545 shares of the utilities provider’s stock after selling 508,391 shares during the quarter. Capital Research Global Investors owned approximately 1.53% of Public Service Enterprise Group worth $612,251,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the second quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. boosted its position in 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 purchasing an additional 248 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Public Service Enterprise Group during the fourth quarter worth approximately $44,000. Colonial Trust Co SC boosted its position in Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 121 shares in the last quarter. Finally, TFC Financial Management Inc. boosted its position in Public Service Enterprise Group by 3,000.0% during the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PEG shares. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a research report on Thursday, March 5th. Truist Financial reduced their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Finally, LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.19.

Public Service Enterprise Group Stock Down 0.0%

PEG stock opened at $79.48 on Monday. The company has a market cap of $39.61 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 2.99 and a beta of 0.51. 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 Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The firm has a 50-day moving average of $79.80 and a two-hundred day moving average of $80.96.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.43 EPS. 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 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares in the company, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,249 shares of company stock valued at $498,795. 0.19% of the stock is currently owned by corporate insiders.

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.