Hsbc Holdings PLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) by 5.2% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,390,871 shares of the utilities provider’s stock after purchasing an additional 69,204 shares during the period. Hsbc Holdings PLC’s holdings in Public Service Enterprise Group were worth $113,132,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in Public Service Enterprise Group during the second quarter valued at $590,000. Archer Investment Corp bought a new stake in shares of Public Service Enterprise Group in the second quarter valued at $94,000. Fox Hill Wealth Management bought a new stake in shares of Public Service Enterprise Group in the second quarter valued at $2,004,000. Kingsview Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $599,000. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $2,193,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have weighed in on PEG shares. Truist Financial cut their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Citigroup cut their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Jefferies Financial Group lowered their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $89.43.
Public Service Enterprise Group Trading Down 0.2%
Shares of PEG opened at $73.57 on Monday. 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 market capitalization of $36.67 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.78 and a beta of 0.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The firm’s 50 day simple moving average is $77.21 and its 200 day simple moving average is $79.71.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.67%.
Insider Activity at Public Service Enterprise Group
In other Public Service Enterprise Group news, COO Kim Hanemann sold 3,035 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,201 shares of company stock valued at $1,172,339 over the last 90 days. 0.19% of the stock is owned by 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.
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