Hsbc Holdings PLC Boosts Stake in Public Service Enterprise Group Incorporated $PEG

Hsbc Holdings PLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 47.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,472,165 shares of the utilities provider’s stock after acquiring an additional 474,484 shares during the quarter. Hsbc Holdings PLC’s holdings in Public Service Enterprise Group were worth $118,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PEG. Norges Bank purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at about $552,280,000. Bank of America Corp DE lifted its position in 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 period. Vanguard Group Inc. boosted its holdings in Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after purchasing an additional 2,189,951 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Public Service Enterprise Group by 174.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after purchasing an additional 1,788,449 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Public Service Enterprise Group by 40.0% in the 4th quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock worth $217,483,000 after purchasing an additional 774,256 shares during the period. 73.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 287,232 shares in the company, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,249 shares of company stock valued at $498,795 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of a number of research reports. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. 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 report on Wednesday, April 15th. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a research report on Thursday, March 5th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their target price for the company from $87.50 to $84.50 in a report on Friday, March 13th. Finally, Wells Fargo & Company raised their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $93.19.

Public Service Enterprise Group Stock Down 0.0%

PEG opened at $79.88 on Monday. 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 1-year low of $76.05 and a 1-year high of $91.25. The company has a market capitalization of $39.80 billion, a PE ratio of 17.67, a PEG ratio of 3.01 and a beta of 0.51. The firm’s 50 day simple moving average is $79.39 and its two-hundred day simple moving average is $80.76.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

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.