Public Service Enterprise Group Incorporated $PEG Shares Purchased by Saudi Central Bank

Saudi Central Bank raised its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 89.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 34,912 shares of the utilities provider’s stock after buying an additional 16,488 shares during the quarter. Saudi Central Bank’s holdings in Public Service Enterprise Group were worth $2,833,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Community Financial Services Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Public Service Enterprise Group during the 2nd quarter valued at about $26,000. Elevation Wealth Partners LLC grew its position in Public Service Enterprise Group by 240.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 243 shares during the last quarter. Finally, Aberdeen Wealth Management LLC bought a new position in Public Service Enterprise Group in the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $73.57 on Tuesday. Public Service Enterprise Group Incorporated has a twelve month low of $72.53 and a twelve 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. The firm has a 50-day moving average of $77.04 and a two-hundred day moving average of $79.62. The company has a market capitalization of $36.67 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.78 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts expect 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction 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 sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer directly owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,201 shares of company stock valued at $1,172,339 in the last three months. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PEG shares. Citigroup cut their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Morgan Stanley cut their target price 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. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target for the company. Jefferies Financial Group decreased their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $89.43.

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.