NEOS Investment Management LLC Increases Holdings in Public Service Enterprise Group Incorporated $PEG

NEOS Investment Management LLC increased its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,675 shares of the utilities provider’s stock after acquiring an additional 10,149 shares during the period. NEOS Investment Management LLC’s holdings in Public Service Enterprise Group were worth $6,629,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Public Service Enterprise Group during the second quarter worth $4,366,570,000. Bank of America Corp DE purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at $1,207,400,000. Norges Bank purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $552,280,000. Legal & General Group Plc purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at $554,994,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $221,632,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Jefferies Financial Group cut their price objective 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. Morgan Stanley dropped their price target on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. Truist Financial cut their price target on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 13th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective on the stock. Finally, Citigroup decreased their price objective 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 given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $89.43.

Insider Activity

In related news, CEO Ralph LaRossa sold 2,083 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,201 shares of company stock valued at $1,172,339 over the last quarter. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 0.3%

Shares of NYSE PEG opened at $73.57 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $72.53 and a 1 year high of $87.63. The firm’s 50 day moving average price is $77.21 and its 200 day moving average price is $79.76. The firm has a market cap of $36.67 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.50. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given 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 dividend yield of 3.6%. Public Service Enterprise Group’s payout ratio is currently 66.67%.

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.