8,948 Shares in Public Service Enterprise Group Incorporated $PEG Bought by Cullen Capital Management LLC

Cullen Capital Management LLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 8,948 shares of the utilities provider’s stock, valued at approximately $726,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after acquiring an additional 2,189,951 shares in the last quarter. BlackRock Inc. bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $4,366,570,000. State Street Corp increased its stake in shares of Public Service Enterprise Group by 2.8% during the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after purchasing an additional 762,591 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Public Service Enterprise Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock valued at $1,021,475,000 after purchasing an additional 114,351 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.3%

Shares of NYSE PEG opened at $73.53 on Tuesday. The firm’s 50 day moving average price is $78.59 and its 200-day moving average price is $80.31. Public Service Enterprise Group Incorporated has a 52-week low of $72.53 and a 52-week high of $87.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market cap of $36.65 billion, a PE ratio of 18.29, a P/E/G ratio of 2.73 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results 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. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The firm’s quarterly revenue was down 8.9% compared to the same quarter last year. 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 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.67%.

Analysts Set New Price Targets

PEG has been the topic of a number of analyst reports. Jefferies Financial Group dropped their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Truist Financial reduced their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. Finally, Citigroup cut their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Hold” and an average target price of $89.43.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. 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 quarter, insiders sold 17,284 shares of company stock valued at $1,332,751. Corporate insiders own 0.19% of the company’s stock.

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.