Equitable Holdings Inc. Takes $4.12 Million Position in Public Service Enterprise Group Incorporated $PEG

Equitable Holdings Inc. bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, HoldingsChannel reports. The fund bought 50,804 shares of the utilities provider’s stock, valued at approximately $4,123,000.

Several other large investors have also recently bought and sold shares of PEG. Empowered Funds LLC raised its stake in Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after buying an additional 940 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Public Service Enterprise Group by 40.7% in the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after acquiring an additional 12,172 shares during the last quarter. Cresset Asset Management LLC increased its holdings in shares of Public Service Enterprise Group by 27.6% in the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after acquiring an additional 1,040 shares during the last quarter. Jump Financial LLC raised its position in shares of Public Service Enterprise Group by 70.4% during the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after acquiring an additional 5,250 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after acquiring an additional 1,649 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.0%

NYSE:PEG opened at $73.29 on Friday. The stock’s 50 day moving average price is $78.20 and its 200 day moving average price is $80.17. The company has a market capitalization of $36.53 billion, a PE ratio of 18.23, a P/E/G ratio of 2.79 and a beta of 0.51. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 52-week low of $72.53 and a 52-week high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Insider Activity at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed 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, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,284 shares of company stock worth $1,332,751 in the last 90 days. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of research analyst reports. Truist Financial lowered 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. Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Citigroup lowered their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Finally, Jefferies Financial Group dropped their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $89.43.

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.