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

Jennison Associates LLC trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,502,604 shares of the utilities provider’s stock after selling 32,855 shares during the period. Jennison Associates LLC owned about 0.30% of Public Service Enterprise Group worth $121,636,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PEG. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 75.4% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,501 shares of the utilities provider’s stock valued at $122,000 after buying an additional 645 shares during the period. Simon Quick Advisors LLC purchased a new stake in Public Service Enterprise Group in the 1st quarter worth approximately $319,000. Cornerstone Planning Group LLC grew its stake in Public Service Enterprise Group by 9.6% in the 1st quarter. Cornerstone Planning Group LLC now owns 12,905 shares of the utilities provider’s stock worth $1,029,000 after acquiring an additional 1,125 shares during the period. Bessemer Group Inc. raised its holdings in Public Service Enterprise Group by 12.1% in the 1st quarter. Bessemer Group Inc. now owns 5,760 shares of the utilities provider’s stock valued at $466,000 after acquiring an additional 620 shares during the last quarter. Finally, SteelPeak Wealth LLC acquired a new position in Public Service Enterprise Group in the 1st quarter valued at $267,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 1.2%

PEG stock opened at $78.58 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The company 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 business has a fifty day simple moving average of $79.60 and a 200-day simple moving average of $80.90. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. 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. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS 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. Stockholders of record on Tuesday, June 9th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the sale, the chief executive officer owned 285,149 shares of the company’s stock, valued at approximately $22,957,345.99. This represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, June 24th. The shares were 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 in the company, valued at approximately $8,102,830. This trade represents a 2.98% 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. In the last three months, insiders have sold 9,284 shares of company stock valued at $746,145. Corporate insiders own 0.19% of the company’s stock.

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.