Sterling Capital Management LLC Has $1.36 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

Sterling Capital Management LLC trimmed its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 43.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,816 shares of the utilities provider’s stock after selling 12,790 shares during the quarter. Sterling Capital Management LLC’s holdings in Public Service Enterprise Group were worth $1,361,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. Empowered Funds LLC grew its stake in Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after buying an additional 940 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after acquiring an additional 12,172 shares during the period. Cresset Asset Management LLC grew its position in shares of Public Service Enterprise Group by 27.6% in the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 1,040 shares during the last quarter. Jump Financial LLC increased its stake in shares of Public Service Enterprise Group by 70.4% during the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after purchasing an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC increased its stake in shares of Public Service Enterprise Group by 3.0% during the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after purchasing an additional 1,649 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 1.4%

Shares of PEG stock opened at $82.45 on Tuesday. The stock has a market cap of $41.09 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 3.14 and a beta of 0.51. 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 current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock has a 50 day simple moving average of $79.37 and a 200 day simple moving average of $80.85.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company’s revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the company earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is 59.29%.

Insider Transactions at Public Service Enterprise Group

In related 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 transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. This represents a 0.72% 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 ninety days, insiders sold 9,284 shares of company stock valued at $747,665. 0.19% of the stock is owned by insiders.

Analyst Ratings Changes

PEG has been the subject of several recent research reports. BMO Capital Markets boosted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. JPMorgan Chase & Co. lifted their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Barclays boosted their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Finally, Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target on the stock in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.19.

Public Service Enterprise Group 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.