JPMorgan Chase & Co. Sells 2,212,525 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• JPMorgan Chase & Co. cut its stake in Public Service Enterprise Group by 24.8% in the fourth quarter, selling 2,212,525 shares and leaving it with about 6.73 million shares valued at roughly $540.1 million.
• Public Service Enterprise Group reported strong quarterly results, with EPS of $1.55 beating estimates of $1.44 and revenue of $3.85 billion topping expectations; revenue was up 19.4% year over year.
• The utility also declared a quarterly dividend of $0.67 per share, implying an annualized yield of 3.4%, while analysts currently rate the stock a consensus Moderate Buy with a $93.19 target price.

JPMorgan Chase & Co. trimmed its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,725,762 shares of the utilities provider's stock after selling 2,212,525 shares during the quarter. JPMorgan Chase & Co. owned about 1.35% of Public Service Enterprise Group worth $540,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PEG. Rossby Financial LCC grew its holdings in shares of Public Service Enterprise Group by 5.5% during the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider's stock worth $191,000 after purchasing an additional 121 shares in the last quarter. Colonial Trust Co SC increased its position in shares of Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock worth $48,000 after purchasing an additional 121 shares during the last quarter. JPL Wealth Management LLC raised its stake in Public Service Enterprise Group by 0.4% in the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider's stock valued at $2,734,000 after purchasing an additional 122 shares in the last quarter. Strategic Investment Advisors MI raised its stake in Public Service Enterprise Group by 0.8% in the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider's stock valued at $1,331,000 after purchasing an additional 127 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its position in Public Service Enterprise Group by 3.3% during the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider's stock valued at $320,000 after purchasing an additional 129 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the sale, the chief executive officer directly owned 287,232 shares in the company, valued at $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock valued at $498,795 over the last ninety days. Insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 0.0%

Shares of NYSE PEG opened at $78.57 on Thursday. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The firm's 50 day simple moving average is $79.64 and its two-hundred day simple moving average is $80.89. The stock has a market capitalization of $39.15 billion, a P/E ratio of 17.38, a PEG ratio of 2.96 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business posted $1.43 EPS. The business's quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Analysts Set New Price Targets

PEG has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, March 12th. Evercore upgraded shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price objective on the stock in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Barclays upped their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Finally, Truist Financial lowered their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a research report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and a consensus target price of $93.19.

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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