JPMorgan Chase & Co. Sells 2,212,525 Shares of Public Service Enterprise Group Incorporated $PEG

JPMorgan Chase & Co. decreased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 24.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,725,762 shares of the utilities provider’s stock after selling 2,212,525 shares during the period. JPMorgan Chase & Co.’s holdings in Public Service Enterprise Group were worth $540,079,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PEG. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. grew 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 last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Public Service Enterprise Group in the 4th quarter worth $44,000. TFC Financial Management Inc. increased its position in shares of Public Service Enterprise Group by 3,000.0% in the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 570 shares during the period. Finally, Colonial Trust Co SC increased its position in shares of Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 121 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 0.0%

NYSE:PEG opened at $78.57 on Thursday. The company has a 50-day moving average price of $79.64 and a 200-day moving average price of $80.89. The stock has a market cap of $39.15 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 2.96 and a beta of 0.51. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25.

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, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. Public Service Enterprise Group’s revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given 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 3.4%. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets increased their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. Scotiabank restated a “sector perform” rating and set a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Truist Financial lowered their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, May 18th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the transaction, 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. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 6,249 shares of company stock valued at $498,795. 0.19% of the stock is currently owned by corporate insiders.

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.