Ieq Capital LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 54,582 shares of the utilities provider’s stock, valued at approximately $4,430,000.
Other hedge funds have also recently bought and sold shares of the company. Community Financial Services Group LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC lifted its stake in Public Service Enterprise Group by 240.6% during the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 243 shares during the last quarter. Finally, Bayban bought a new stake in Public Service Enterprise Group during the fourth quarter worth $33,000. 73.34% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Jefferies Financial Group reduced their price objective on 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. Morgan Stanley decreased their target price on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Citigroup lowered their target price 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.43.
Insider Buying and Selling at Public Service Enterprise Group
In other news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 value of $596,480.00. Following the sale, the senior vice president owned 20,970 shares in the company, 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. Over the last three months, insiders sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is currently owned by insiders.
Public Service Enterprise Group Stock Performance
NYSE PEG opened at $73.53 on Tuesday. The firm’s fifty day moving average price is $78.59 and its two-hundred day moving average price is $80.31. The stock has a market cap of $36.65 billion, a PE ratio of 18.29, a PEG ratio of 2.73 and a beta of 0.51. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.53 and a fifty-two week high of $87.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The company’s revenue for the quarter 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, equities 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. 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 presently 66.67%.
Public Service Enterprise Group 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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