Public Service Enterprise Group Incorporated $PEG Stock Holdings Boosted by Summit Global Investments

Summit Global Investments raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,378 shares of the utilities provider’s stock after acquiring an additional 9,645 shares during the quarter. Summit Global Investments’ holdings in Public Service Enterprise Group were worth $2,786,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Public Service Enterprise Group in the second quarter worth about $4,366,570,000. State Street Corp increased its holdings in Public Service Enterprise Group by 1.4% during the 2nd quarter. State Street Corp now owns 29,481,434 shares of the utilities provider’s stock valued at $2,392,713,000 after purchasing an additional 399,191 shares during the period. Bank of America Corp DE purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at about $1,207,400,000. Legal & General Group Plc purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at about $554,994,000. Finally, Amundi raised its position in Public Service Enterprise Group by 71.6% during the 2nd quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock valued at $321,580,000 after purchasing an additional 1,653,832 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $67.48, for a total value of $140,560.84. Following the sale, the chief executive officer directly owned 279,490 shares of the company’s stock, valued at $18,859,985.20. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,166 shares of company stock valued at $896,328 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a report on Monday, October 19th. BTIG Research reduced their target price on Public Service Enterprise Group from $94.00 to $84.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. Morgan Stanley decreased their target price on Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. Jefferies Financial Group decreased their target price on Public Service Enterprise Group from $73.00 to $69.00 and set a “hold” rating for the company in a report on Friday, October 9th. Finally, Scotiabank dropped their price target on Public Service Enterprise Group from $92.00 to $77.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 30th. Eight research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $80.00.

Public Service Enterprise Group Price Performance

PEG stock opened at $74.30 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $66.15 and a 1 year high of $87.63. The company has a market cap of $37.03 billion, a P/E ratio of 18.48, a PEG ratio of 2.54 and a beta of 0.50. The firm has a 50-day moving average of $71.20 and a 200 day moving average of $78.04. 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 (NYSE:PEG) last issued its quarterly earnings data 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 business had revenue of $2.55 billion during the quarter, compared to analyst estimates 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 quarterly 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. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.38 EPS for the current year.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.