State Street Corp Purchases 399,191 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• State Street increased its PEG holdings by 399,191 shares in the second quarter, bringing its position to 29.48 million shares worth approximately $2.39 billion. Institutional investors and hedge funds collectively own 73.34% of the company.
• Public Service Enterprise Group reported quarterly EPS of $0.86, beating estimates by $0.06, though revenue fell 8.9% year over year to $2.55 billion. The company maintained fiscal 2026 EPS guidance of $4.28–$4.40.
• PEG shares were trading near $69.15, close to their 12-month low, while analysts held a consensus “Hold” rating with an average price target of $89.23. The company also declared a quarterly dividend of $0.67, implying a 3.9% annual yield.

State Street Corp boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 1.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 29,481,434 shares of the utilities provider's stock after purchasing an additional 399,191 shares during the period. State Street Corp owned about 5.91% of Public Service Enterprise Group worth $2,392,713,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in PEG. Sequoia Financial Advisors LLC grew its position in shares of Public Service Enterprise Group by 20.5% in the second quarter. Sequoia Financial Advisors LLC now owns 34,091 shares of the utilities provider's stock valued at $2,767,000 after purchasing an additional 5,796 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Public Service Enterprise Group by 185.2% during the second quarter. Tidal Investments LLC now owns 194,489 shares of the utilities provider's stock worth $15,785,000 after buying an additional 126,300 shares in the last quarter. National Pension Service boosted its position in shares of Public Service Enterprise Group by 2.8% in the second quarter. National Pension Service now owns 732,199 shares of the utilities provider's stock valued at $59,425,000 after acquiring an additional 19,898 shares during the period. WINTON GROUP Ltd grew its stake in shares of Public Service Enterprise Group by 86.2% in the second quarter. WINTON GROUP Ltd now owns 15,337 shares of the utilities provider's stock valued at $1,245,000 after acquiring an additional 7,101 shares in the last quarter. Finally, Engineers Gate Manager LP raised its stake in Public Service Enterprise Group by 74.4% in the 2nd quarter. Engineers Gate Manager LP now owns 105,592 shares of the utilities provider's stock worth $8,570,000 after purchasing an additional 45,056 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.2%

NYSE PEG opened at $69.15 on Wednesday. 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 twelve month low of $68.90 and a twelve month high of $87.63. The company has a market cap of $34.46 billion, a price-to-earnings ratio of 17.20, a price-to-earnings-growth ratio of 2.61 and a beta of 0.50. The business's fifty day moving average is $74.88 and its 200 day moving average is $78.52.

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 the consensus estimate of $0.80 by $0.06. The firm 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%. The company's revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group's payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

PEG has been the topic of a number of recent research reports. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Truist Financial reduced 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 note on Thursday, August 13th. Citigroup dropped 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 research report on Wednesday, August 5th. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a "sector perform" rating and a $81.00 price target on the stock. Finally, Wells Fargo & Company decreased 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 research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $89.23.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the company's stock in a transaction on 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 in the company, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. 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 12,166 shares of company stock worth $923,469. 0.19% of the stock is owned by insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated NYSE: PEG is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.

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