Public Service Enterprise Group Incorporated $PEG Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,502,604 shares of the utilities provider’s stock after selling 32,855 shares during the quarter. Jennison Associates LLC’s holdings in Public Service Enterprise Group were worth $121,636,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. grew its position in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 248 shares in the last quarter. Bayban purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $33,000. Motiv8 Investments LLC purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter valued at approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth $44,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Down 1.2%

NYSE:PEG opened at $78.58 on Friday. The stock has a market cap of $39.16 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.96 and a beta of 0.51. 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 1 year low of $76.05 and a 1 year high of $91.25. The business has a fifty day moving average of $79.60 and a 200-day moving average of $80.90.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. The business 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.43 earnings per share. 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 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Truist Financial boosted their price objective on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. Finally, Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus target price of $92.46.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the sale, the chief executive officer owned 285,149 shares of the company’s stock, valued at $22,957,345.99. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Company 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.