Public Service Enterprise Group Incorporated $PEG Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB increased its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 36.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,671 shares of the utilities provider’s stock after buying an additional 715 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Public Service Enterprise Group were worth $225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares during the last quarter. Nuveen LLC acquired a new position in Public Service Enterprise Group during the first quarter valued at approximately $95,076,000. Cbre Investment Management Listed Real Assets LLC acquired a new position in Public Service Enterprise Group during the first quarter valued at approximately $68,317,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Public Service Enterprise Group by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider’s stock valued at $395,354,000 after purchasing an additional 806,782 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Public Service Enterprise Group by 476.9% during the first quarter. Assenagon Asset Management S.A. now owns 919,218 shares of the utilities provider’s stock valued at $75,652,000 after purchasing an additional 759,873 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the topic of several analyst reports. Barclays lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. BMO Capital Markets upped their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. UBS Group upped their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Finally, Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.55.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer owned 218,328 shares of the company’s stock, valued at $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Stock Performance

PEG opened at $81.21 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The business’s 50-day simple moving average is $84.41 and its 200 day simple moving average is $82.09. The firm has a market capitalization of $40.53 billion, a PE ratio of 20.51, a PEG ratio of 2.80 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 3.67 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, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio is currently 63.64%.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.