Clearbridge Investments LLC Sells 1,408,525 Shares of Public Service Enterprise Group Incorporated $PEG

Clearbridge Investments LLC lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 37.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,346,100 shares of the utilities provider’s stock after selling 1,408,525 shares during the period. Clearbridge Investments LLC owned about 0.47% of Public Service Enterprise Group worth $188,392,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after buying an additional 2,189,951 shares in the last quarter. State Street Corp increased its position in shares of Public Service Enterprise Group by 1.0% in the 3rd quarter. State Street Corp now owns 27,598,607 shares of the utilities provider’s stock valued at $2,303,380,000 after buying an additional 267,871 shares in the last quarter. Bank of America Corp DE increased its position in shares of Public Service Enterprise Group by 1.4% in the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after buying an additional 236,794 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Public Service Enterprise Group by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock valued at $1,021,475,000 after buying an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Public Service Enterprise Group by 8.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock valued at $722,546,000 after buying an additional 648,140 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PEG shares. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Scotiabank restated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Barclays upped their price objective on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. Finally, LADENBURG THALM/SH SH cut 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 report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus target price of $93.19.

Public Service Enterprise Group Price Performance

PEG stock opened at $79.48 on Monday. The stock has a 50-day moving average price of $79.80 and a two-hundred day moving average price of $80.96. The stock has a market cap of $39.61 billion, a PE ratio of 17.58, a price-to-earnings-growth 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 1 year low of $76.05 and a 1 year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 is 59.29%.

Insider Buying and Selling at Public Service Enterprise Group

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