HighTower Advisors LLC Cuts Holdings in Public Service Enterprise Group Incorporated $PEG

HighTower Advisors LLC reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 7.6% in the second quarter, Holdings Channel reports. The fund owned 154,476 shares of the utilities provider’s stock after selling 12,782 shares during the quarter. HighTower Advisors LLC’s holdings in Public Service Enterprise Group were worth $12,537,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in Public Service Enterprise Group by 15,435.7% during the second quarter. California State Teachers Retirement System now owns 89,498,622 shares of the utilities provider’s stock worth $7,263,708,000 after acquiring an additional 88,922,538 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $4,366,570,000. State Street Corp boosted its position in Public Service Enterprise Group by 2.8% in the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after buying an additional 762,591 shares during the period. Bank of America Corp DE grew its stake in Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Public Service Enterprise Group by 0.9% during 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 buying an additional 114,351 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Down 2.2%

PEG stock opened at $72.59 on Thursday. The firm has a 50-day simple moving average of $76.74 and a 200-day simple moving average of $79.46. Public Service Enterprise Group Incorporated has a 52 week low of $72.08 and a 52 week high of $87.63. The stock has a market capitalization of $36.18 billion, a P/E ratio of 18.06, a P/E/G ratio of 2.80 and a beta of 0.50. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was down 8.9% compared to the same quarter last year. 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. Equities analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.67%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Truist Financial decreased their price objective on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. 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. Finally, Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.43.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard Thigpen sold 8,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Kim Hanemann sold 3,035 shares of the business’s stock in a transaction dated 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 approximately $8,102,830. The trade was 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 90 days, insiders have sold 15,201 shares of company stock worth $1,172,339. 0.19% of the stock is owned by corporate insiders.

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.