Great Lakes Advisors LLC Purchases Shares of 251,089 Public Service Enterprise Group Incorporated $PEG

Great Lakes Advisors LLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 251,089 shares of the utilities provider’s stock, valued at approximately $20,378,000. Great Lakes Advisors LLC owned approximately 0.05% of Public Service Enterprise Group as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PEG. Community Financial Services Group LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. boosted its holdings in Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 248 shares during the period. Elevation Wealth Partners LLC grew its position in Public Service Enterprise Group by 240.6% in the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 243 shares in the last quarter. Finally, Bayban acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $75.70 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. Public Service Enterprise Group Incorporated has a 1-year low of $74.20 and a 1-year high of $87.63. The company has a 50-day moving average of $79.01 and a 200-day moving average of $80.52. The company has a market capitalization of $37.73 billion, a P/E ratio of 18.83, a PEG ratio of 2.86 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly 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 during 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 company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is 66.67%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 17,284 shares of company stock valued at $1,332,751. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday. 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 on the stock in a research note on Wednesday, August 5th. Truist Financial cut their price objective 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, Jefferies Financial Group decreased their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $90.23.

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.