Public Employees Retirement System of Ohio purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 149,518 shares of the utilities provider’s stock, valued at approximately $12,135,000.
A number of other hedge funds also recently bought and sold shares of PEG. Community Financial Services Group LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $25,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Public Service Enterprise Group during the second quarter valued at $26,000. Elevation Wealth Partners LLC boosted its position in shares of 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 valued at $28,000 after buying an additional 243 shares during the last quarter. Finally, Aberdeen Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at $32,000. Institutional investors own 73.34% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Citigroup lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Truist Financial cut their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Finally, Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” 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 given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $89.43.
Public Service Enterprise Group Price Performance
NYSE PEG opened at $73.07 on Monday. Public Service Enterprise Group Incorporated has a 52 week low of $72.53 and a 52 week high of $87.63. The firm has a market capitalization of $36.42 billion, a P/E ratio of 18.18, a PEG ratio of 2.76 and a beta of 0.51. 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 company has a 50-day moving average price of $78.06 and a 200-day moving average price of $80.11.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last posted 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. The company had revenue of $2.55 billion for 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 firm’s revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.
Public Service Enterprise Group Announces Dividend
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 given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. Public Service Enterprise Group’s payout ratio is presently 66.67%.
Insider Activity
In other news, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction on 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 sale, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. This represents a 27.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,201 shares of company stock valued at $1,172,339 in the last 90 days. Company insiders own 0.19% of the company’s stock.
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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