BlackRock Inc. Makes New $4.37 Billion Investment in Public Service Enterprise Group Incorporated $PEG

Key Points

• BlackRock acquired 53.8 million shares of Public Service Enterprise Group, valued at approximately $4.37 billion, giving it an 10.8% stake. Institutional investors collectively own 73.34% of the company.
• PEG exceeded quarterly earnings expectations, reporting $0.86 EPS versus the $0.80 consensus, although revenue declined 8.9% year over year to $2.55 billion. The company reaffirmed fiscal 2026 EPS guidance of $4.28–$4.40.
• The company declared a quarterly dividend of $0.67 per share, equivalent to a 3.5% annualized yield. Analysts remain cautious, with the stock carrying a consensus “Hold” rating and an average price target of $90.23.

BlackRock Inc. bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 53,801,998 shares of the utilities provider's stock, valued at approximately $4,366,570,000. BlackRock Inc. owned about 10.80% of Public Service Enterprise Group at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Community Financial Services Group LLC acquired a new position in Public Service Enterprise Group during the second quarter worth $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $25,000. Quest 10 Wealth Builders Inc. increased its stake in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider's stock worth $28,000 after acquiring an additional 248 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of Public Service Enterprise Group by 240.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider's stock worth $28,000 after acquiring an additional 243 shares during the period. Finally, Bayban purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth $33,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Trading Up 0.1%

NYSE PEG opened at $75.70 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The stock has a market capitalization of $37.73 billion, a P/E ratio of 18.83, a PEG ratio of 2.86 and a beta of 0.51. The firm's 50-day moving average is $79.01 and its two-hundred day moving average is $80.52. Public Service Enterprise Group Incorporated has a 12 month low of $74.20 and a 12 month high of $87.63.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm earned $0.77 EPS. The business's revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 66.67%.

Insider Activity

In other news, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group 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 sale, the senior vice president directly owned 20,970 shares of the company's stock, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the transaction, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 17,284 shares of company stock valued at $1,332,751. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of analyst reports. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 price objective for the company. Jefferies Financial Group reduced 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 note on Monday, July 20th. Truist Financial decreased their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating on the stock in a report on Thursday, August 13th. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Finally, Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $90.23.

Public Service Enterprise Group Company 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.

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source