Great Lakes Advisors LLC Has $36.59 Million Position in Public Service Enterprise Group Incorporated $PEG

Great Lakes Advisors LLC reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 455,598 shares of the utilities provider’s stock after selling 15,895 shares during the period. Great Lakes Advisors LLC’s holdings in Public Service Enterprise Group were worth $36,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of PEG. Norges Bank acquired a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $552,280,000. Bank of America Corp DE increased its holdings in shares of 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 valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Vanguard Group Inc. increased 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 during the last quarter. Pictet Asset Management Holding SA increased its holdings 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 valued at $225,704,000 after purchasing an additional 1,788,449 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Public Service Enterprise Group by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after purchasing an additional 715,051 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the sale, the chief executive officer owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,249 shares of company stock valued at $498,795 over the last three months. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Up 0.3%

Shares of Public Service Enterprise Group stock opened at $78.80 on Friday. The firm has a 50-day moving average of $79.60 and a 200-day moving average of $80.87. The stock has a market cap of $39.27 billion, a PE ratio of 17.43, a PEG ratio of 2.96 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.43 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 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Analysts Set New Price Targets

PEG has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Barclays upped their price objective on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Truist Financial decreased their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Scotiabank reiterated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.19.

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.