Sterling Capital Management LLC Has $1.36 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Sterling Capital Management LLC reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 43.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,816 shares of the utilities provider’s stock after selling 12,790 shares during the quarter. Sterling Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,361,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after acquiring an additional 2,189,951 shares during the last quarter. State Street Corp grew its holdings 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 grew its holdings in shares of Public Service Enterprise Group by 1.4% during the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after purchasing an additional 236,794 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $1,021,475,000 after purchasing an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Public Service Enterprise Group by 8.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock valued at $722,546,000 after purchasing an additional 648,140 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, June 24th. The stock was 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 of the company’s stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares in the company, valued at $22,119,736.32. This trade represents a 0.72% 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. Insiders have sold a total of 9,284 shares of company stock worth $747,665 over the last ninety days. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Barclays raised their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, April 13th. Finally, Wells Fargo & Company upped their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $93.19.

Public Service Enterprise Group Trading Down 1.4%

Shares of NYSE PEG opened at $82.45 on Tuesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The firm has a 50 day moving average price of $79.37 and a two-hundred day moving average price of $80.85. The stock has a market cap of $41.09 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 3.14 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Public Service Enterprise Group 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.