Capital Analysts LLC Acquires 6,929 Shares of Public Service Enterprise Group Incorporated $PEG

Capital Analysts LLC lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 209.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,239 shares of the utilities provider’s stock after buying an additional 6,929 shares during the period. Capital Analysts LLC’s holdings in Public Service Enterprise Group were worth $831,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. California State Teachers Retirement System raised its position 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 valued at $7,263,708,000 after purchasing an additional 88,922,538 shares during the period. BlackRock Inc. bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $4,366,570,000. State Street Corp increased its position in shares of Public Service Enterprise Group by 2.8% during 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 purchasing an additional 762,591 shares during the last quarter. Bank of America Corp DE raised 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 during the period. Finally, Geode Capital Management LLC raised its holdings in 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 valued at $1,021,475,000 after buying an additional 114,351 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.1%

Shares of PEG opened at $72.54 on Friday. The firm has a fifty day moving average price of $76.56 and a 200-day moving average price of $79.37. 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 market capitalization of $36.16 billion, a P/E ratio of 18.05, a P/E/G ratio of 2.73 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 12-month low of $72.08 and a 12-month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 16.04% and a return on equity of 12.42%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a 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%.

Analyst Ratings Changes

Several research analysts have commented on PEG shares. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Citigroup lowered their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Truist Financial cut their price target 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, Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $89.43.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 8,000 shares of the 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. This represents a 27.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,201 shares of company stock worth $1,172,339 in the last ninety days. 0.19% of the stock is owned by company 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.