Public Service Enterprise Group Incorporated $PEG Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 47.6% in the fourth quarter, HoldingsChannel reports. The firm owned 1,472,165 shares of the utilities provider’s stock after purchasing an additional 474,484 shares during the quarter. Hsbc Holdings PLC’s holdings in Public Service Enterprise Group were worth $118,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Public Service Enterprise Group by 3.4% in the fourth 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 during the last quarter. State Street Corp grew its position in shares of Public Service Enterprise Group by 2.8% during the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock worth $2,277,404,000 after acquiring an additional 762,591 shares during the last quarter. Bank of America Corp DE increased its holdings 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 worth $1,483,366,000 after acquiring an additional 236,794 shares during the period. Geode Capital Management LLC increased 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 worth $1,021,475,000 after acquiring an additional 114,351 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in 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 purchasing an additional 648,140 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $81.55 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The stock has a market cap of $40.64 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.07 and a beta of 0.51. The stock’s 50 day moving average price is $79.48 and its 200 day moving average price is $80.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion during 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 firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the company posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a $0.67 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.3%. Public Service Enterprise Group’s payout ratio is 59.29%.

Wall Street Analyst Weigh In

PEG has been the subject of several recent analyst reports. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research report on Thursday. They issued a “sector perform” rating and a $81.00 target price for the company. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.32.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the transaction, the chief executive officer owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is owned by company insiders.

About Public Service Enterprise Group

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.