Equitable Holdings Inc. Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Equitable Holdings Inc. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 50,804 shares of the utilities provider’s stock, valued at approximately $4,123,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Centaurus Financial Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $121,000. Coastal Bridge Advisors LLC purchased a new stake in Public Service Enterprise Group in the second quarter valued at $749,000. Jefferies Financial Group Inc. acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $651,000. Public Employees Retirement System of Ohio purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $12,135,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $226,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank Of Canada began 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 objective on the stock. Jefferies Financial Group dropped their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Truist Financial decreased their price objective on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Finally, Citigroup lowered 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 research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Hold” and an average price target of $89.43.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of the 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 owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This trade represents a 27.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at $21,691,174.32. The trade was a 0.73% 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 three months, insiders have sold 17,284 shares of company stock worth $1,332,751. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 1.0%

Shares of PEG stock opened at $73.29 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 stock has a market capitalization of $36.53 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 2.79 and a beta of 0.51. The company has a 50 day moving average price of $78.20 and a 200 day moving average price of $80.17. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.53 and a fifty-two week high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping 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 firm 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 earned $0.77 EPS. The firm’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. Equities research 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.67%.

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.