HighTower Advisors LLC Sells 12,782 Shares of Public Service Enterprise Group Incorporated $PEG

HighTower Advisors LLC lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,476 shares of the utilities provider’s stock after selling 12,782 shares during the period. HighTower Advisors LLC’s holdings in Public Service Enterprise Group were worth $12,537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System boosted its stake in shares of Public Service Enterprise Group by 15,435.7% in the 2nd quarter. California State Teachers Retirement System now owns 89,498,622 shares of the utilities provider’s stock worth $7,263,708,000 after buying an additional 88,922,538 shares during the last quarter. BlackRock Inc. bought a new position in Public Service Enterprise Group during the second quarter worth about $4,366,570,000. State Street Corp grew its position in shares of Public Service Enterprise Group by 2.8% in the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after purchasing an additional 762,591 shares in the last quarter. Bank of America Corp DE grew its holdings in 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 valued at $1,476,230,000 after buying an additional 3,469,886 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Public Service Enterprise Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock valued at $1,021,475,000 after acquiring an additional 114,351 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

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, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following 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. In the last 90 days, insiders have sold 15,201 shares of company stock worth $1,172,339. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 2.2%

Shares of NYSE:PEG opened at $72.59 on Thursday. The stock has a market capitalization of $36.18 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 2.80 and a beta of 0.50. The stock has a fifty day simple moving average of $76.74 and a two-hundred day simple moving average of $79.46. Public Service Enterprise Group Incorporated has a 12-month low of $72.08 and a 12-month high of $87.63. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm posted $0.77 EPS. Public Service Enterprise Group’s revenue for the quarter was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 66.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PEG. Truist Financial decreased their target price on 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 research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Jefferies Financial Group cut their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Finally, Morgan Stanley reduced their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and a consensus price target of $89.43.

About Public Service Enterprise Group

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.