Meeder Advisory Services Inc. Makes New $1.59 Million Investment in Public Service Enterprise Group Incorporated $PEG

Meeder Advisory Services Inc. purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,640 shares of the utilities provider's stock, valued at approximately $1,594,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock worth $5,420,155,000 after buying an additional 2,189,951 shares during the period. BlackRock Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $4,366,570,000. State Street Corp lifted its position in shares of Public Service Enterprise Group by 2.8% during the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider's stock valued at $2,277,404,000 after acquiring an additional 762,591 shares during the period. Bank of America Corp DE lifted its position in shares of Public Service Enterprise Group by 24.7% during the 2nd 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 acquiring an additional 3,469,886 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Public Service Enterprise Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider's stock worth $1,021,475,000 after acquiring an additional 114,351 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wells Fargo & Company reduced 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 report on Wednesday, August 5th. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Truist Financial cut their price objective on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating on the stock in a research report on Thursday, August 13th. Weiss Ratings downgraded Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group decreased their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating for the company in a research 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 MarketBeat, the company has a consensus rating of "Hold" and an average price target of $90.23.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer directly owned 283,656 shares of the company's stock, valued at $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,284 shares of company stock worth $1,332,751 over the last three months. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $75.31 on Thursday. Public Service Enterprise Group Incorporated has a 12-month low of $74.20 and a 12-month high of $87.63. The business's fifty day moving average is $78.94 and its 200 day moving average is $80.48. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The stock has a market cap of $37.54 billion, a P/E ratio of 18.73, a P/E/G ratio of 2.85 and a beta of 0.51.

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

Public Service Enterprise Group Dividend Announcement

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

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.

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