Wellington Management Group LLP Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Wellington Management Group LLP purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 7,265 shares of the utilities provider’s stock, valued at approximately $590,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $4,366,570,000. State Street Corp raised its stake in shares of Public Service Enterprise Group by 2.8% during the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock worth $2,277,404,000 after buying an additional 762,591 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after buying an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC lifted its holdings 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 during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Public Service Enterprise Group by 9.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after buying an additional 715,051 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on PEG shares. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Truist Financial lowered their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Finally, Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.43.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,201 shares of company stock valued at $1,172,339 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 0.1%

Public Service Enterprise Group stock opened at $72.41 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The firm has a market capitalization of $36.09 billion, a price-to-earnings ratio of 18.01, a price-to-earnings-growth ratio of 2.73 and a beta of 0.50. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.08 and a fifty-two week high of $87.63. The stock’s fifty day moving average is $76.38 and its two-hundred day moving average is $79.32.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating 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 return on equity of 12.42% and a net margin of 16.04%.The business’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. Public Service Enterprise Group’s payout ratio is presently 66.67%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.