Public Service Enterprise Group Incorporated $PEG Shares Sold by Railway Pension Investments Ltd

Railway Pension Investments Ltd reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 21.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,360,650 shares of the utilities provider’s stock after selling 361,700 shares during the quarter. Public Service Enterprise Group makes up about 1.4% of Railway Pension Investments Ltd’s holdings, making the stock its 27th largest position. Railway Pension Investments Ltd’s holdings in Public Service Enterprise Group were worth $110,430,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Community Financial Services Group LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Public Service Enterprise Group during the 2nd quarter worth $26,000. Elevation Wealth Partners LLC lifted its holdings 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 worth $28,000 after purchasing an additional 243 shares during the period. Finally, Aberdeen Wealth Management LLC bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PEG. Truist Financial decreased their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. Finally, Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $89.43.

Public Service Enterprise Group Trading Up 0.3%

Public Service Enterprise Group stock opened at $73.38 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $72.53 and a 52 week high of $87.63. The firm has a market capitalization of $36.57 billion, a PE ratio of 18.25, a PEG ratio of 2.76 and a beta of 0.51. The business’s 50-day simple moving average is $77.92 and its 200-day simple moving average is $80.04. 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 (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.Public Service Enterprise Group’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 business earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Insider Activity at Public Service Enterprise Group

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

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.