Deutsche Bank AG Invests $126.38 Million in Public Service Enterprise Group Incorporated $PEG

Deutsche Bank AG purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,557,206 shares of the utilities provider’s stock, valued at approximately $126,383,000. Deutsche Bank AG owned 0.31% of Public Service Enterprise Group at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Public Service Enterprise Group during the 4th quarter worth approximately $552,280,000. Bank of America Corp DE raised its stake in Public Service Enterprise Group by 24.7% during the 2nd 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. Bank of New York Mellon Corp purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at $221,632,000. Vanguard Group Inc. lifted its holdings in shares of 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 valued at $5,420,155,000 after purchasing an additional 2,189,951 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of 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 buying an additional 1,788,449 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4%

Public Service Enterprise Group stock opened at $75.31 on Thursday. Public Service Enterprise Group Incorporated has a 12 month low of $74.20 and a 12 month high of $87.63. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The stock has a market cap of $37.54 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.85 and a beta of 0.51. The company’s fifty day simple moving average is $78.94 and its 200-day simple moving average is $80.48.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the company 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, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

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

Insider Activity

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 that occurred on Monday, August 3rd. The shares were 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 $21,691,174.32. The trade was a 0.73% 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 90 days, insiders have sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Truist Financial decreased 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. Wells Fargo & Company lowered their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Royal Bank Of Canada began 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 reduced their price target on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $90.23.

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.