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

Rockefeller Capital Management L.P. grew its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 45.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 339,450 shares of the utilities provider’s stock after acquiring an additional 105,526 shares during the period. Rockefeller Capital Management L.P.’s holdings in Public Service Enterprise Group were worth $27,258,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Quest 10 Wealth Builders Inc. increased 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 buying an additional 248 shares during the last quarter. Bayban acquired a new position in Public Service Enterprise Group during the fourth quarter worth approximately $33,000. Motiv8 Investments LLC bought a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $44,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group 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 $22,119,736.32. The trade was a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock worth $498,795 over the last 90 days. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEG. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Thursday, March 5th. Wells Fargo & Company increased their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Jefferies Financial Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $80.63 on Tuesday. The stock has a 50 day simple moving average of $79.32 and a 200 day simple moving average of $80.76. The stock has a market cap of $40.18 billion, a P/E ratio of 17.84, a PEG 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 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 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 firm had revenue of $3.85 billion for the quarter, compared to analyst estimates 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 for the quarter was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 EPS. 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 year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Public Service Enterprise Group 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.