Hsbc Holdings PLC Has $113.13 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• HSBC increased its Public Service Enterprise Group stake by 5.2% in the second quarter, bringing its holdings to 1.39 million shares valued at approximately $113.1 million. Institutional investors collectively own 73.34% of PEG.
• Analyst sentiment has weakened, with several firms cutting price targets; PEG carries a consensus “Hold” rating and an average target price of $89.43, compared with its recent price of $73.57.
• PEG exceeded quarterly EPS expectations ($0.86 versus $0.80) but revenue declined 8.9% year over year. The company maintained a quarterly dividend of $0.67 per share, representing a 3.6% annualized yield.

Hsbc Holdings PLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 5.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,390,871 shares of the utilities provider's stock after buying an additional 69,204 shares during the quarter. Hsbc Holdings PLC owned approximately 0.28% of Public Service Enterprise Group worth $113,132,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP bought a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $590,000. Archer Investment Corp bought a new stake in Public Service Enterprise Group during the 2nd quarter worth $94,000. Fox Hill Wealth Management bought a new stake in Public Service Enterprise Group during the 2nd quarter worth $2,004,000. Kingsview Wealth Management LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter worth about $599,000. Finally, Beacon Pointe Advisors LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter worth about $2,193,000. Institutional investors own 73.34% of the company's stock.

Insiders Place Their Bets

In related news, COO Kim Hanemann sold 3,035 shares of Public Service Enterprise Group 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 transaction, the chief operating officer owned 98,815 shares of the company's stock, valued at $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing 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 Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated 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 directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 15,201 shares of company stock worth $1,172,339. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on PEG shares. Truist Financial cut their price target on Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating on the stock in a research note on Thursday, August 13th. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Citigroup lowered their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating for the company in a research note on Wednesday, August 5th. Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Finally, 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 report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $89.43.

Public Service Enterprise Group Trading Down 0.2%

NYSE PEG opened at $73.57 on Monday. The business's 50-day moving average price is $77.21 and its two-hundred day moving average price is $79.71. Public Service Enterprise Group Incorporated has a 12 month low of $72.53 and a 12 month high of $87.63. The firm has a market capitalization of $36.67 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.50. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

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

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 66.67%.

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.

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