Wealthfront Advisers LLC Invests $3.91 Million in Public Service Enterprise Group Incorporated $PEG

Wealthfront Advisers LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 48,132 shares of the utilities provider’s stock, valued at approximately $3,906,000.

Other hedge funds have also recently bought and sold shares of the company. Community Financial Services Group LLC acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth $25,000. Quest 10 Wealth Builders Inc. boosted its position in Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the period. Elevation Wealth Partners LLC increased its holdings in Public Service Enterprise Group by 240.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 243 shares in the last quarter. Finally, Bayban purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of the firm’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 sale, the senior vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group 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 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,284 shares of company stock valued at $1,332,751 over the last three months. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PEG. Jefferies Financial Group lowered 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 note on Monday, July 20th. Truist Financial lowered their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a 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. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price for the company. 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 for the company in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $90.23.

Public Service Enterprise Group Trading Down 0.9%

Public Service Enterprise Group stock opened at $74.67 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $74.20 and a 1 year high of $87.63. The firm’s 50-day moving average is $78.86 and its 200-day moving average is $80.42. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market cap of $37.22 billion, a P/E ratio of 18.57, a PEG ratio of 2.84 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. 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 earnings per share for the current 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 given a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. Public Service Enterprise Group’s payout ratio 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.