Jennison Associates LLC Cuts Stock Position in Public Service Enterprise Group Incorporated $PEG

Jennison Associates LLC trimmed its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,535,459 shares of the utilities provider’s stock after selling 22,621 shares during the period. Jennison Associates LLC’s holdings in Public Service Enterprise Group were worth $123,297,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. HM Payson & Co. raised its stake in Public Service Enterprise Group by 3.3% in the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 120 shares during the last quarter. Rossby Financial LCC grew its holdings in Public Service Enterprise Group by 5.5% in the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after buying an additional 121 shares during the period. Colonial Trust Co SC grew its holdings in Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after buying an additional 121 shares during the period. JPL Wealth Management LLC grew its holdings in Public Service Enterprise Group by 0.4% in the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after buying an additional 122 shares during the period. Finally, Transcend Capital Advisors LLC grew its holdings in Public Service Enterprise Group by 2.6% in the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after buying an additional 125 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $81.24, for a total value of $169,222.92. Following the transaction, the chief executive officer directly owned 291,398 shares of the company’s stock, valued at $23,673,173.52. This represents a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 8,866 shares of company stock valued at $733,587. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. Truist Financial initiated coverage on Public Service Enterprise Group in a report on Tuesday, April 21st. They set a “hold” rating and a $91.00 target price for the company. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a report on Thursday, March 5th. Barclays boosted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.25.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $81.04 on Thursday. The company has a market cap of $40.42 billion, a P/E ratio of 19.20, a PEG ratio of 3.02 and a beta of 0.58. The stock has a fifty day moving average price of $82.44 and a 200 day moving average price of $81.70. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60. Public Service Enterprise Group Incorporated has a 12 month low of $76.00 and a 12 month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the prior year, the business earned $0.84 EPS. The firm’s revenue was up 18.3% 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 forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio is presently 63.51%.

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.