Northwestern Mutual Wealth Management Co. Acquires New Holdings in Public Service Enterprise Group Incorporated $PEG

Northwestern Mutual Wealth Management Co. bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 60,227 shares of the utilities provider’s stock, valued at approximately $4,888,000.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $4,366,570,000. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at $552,280,000. Bank of America Corp DE boosted its holdings in Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Public Service Enterprise Group in the second quarter worth $221,632,000. Finally, Vanguard Group Inc. increased its position 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 buying an additional 2,189,951 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Up 0.1%

Public Service Enterprise Group stock opened at $72.71 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.60 and a fifty-two week high of $87.63. The firm has a fifty day moving average price of $78.72 and a two-hundred day moving average price of $80.37. The firm has a market cap of $36.24 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 2.73 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm’s revenue was down 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

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 issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.67%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares in the company, valued at $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing 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 the stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,284 shares of company stock valued at $1,332,751 in the last 90 days. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

PEG has been the subject of several recent analyst reports. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Morgan Stanley reduced their target price on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday. Jefferies Financial Group decreased their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Finally, Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Hold” and an average price target of $89.43.

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.