10,972 Shares in Public Service Enterprise Group Incorporated $PEG Purchased by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC acquired a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,972 shares of the utilities provider’s stock, valued at approximately $891,000.

A number of other large investors also recently modified their holdings of the stock. Simplicity Wealth LLC boosted its holdings in Public Service Enterprise Group by 3.3% during the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after acquiring an additional 129 shares during the last quarter. Westfuller Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 7.3% in the first quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 129 shares during the last quarter. Key Financial Inc lifted its position in shares of Public Service Enterprise Group by 2.6% during the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 133 shares in the last quarter. Benjamin Edwards Inc. boosted its holdings in Public Service Enterprise Group by 4.3% during the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 134 shares during the last quarter. Finally, CFS Investment Advisory Services LLC grew its position in Public Service Enterprise Group by 1.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock worth $1,068,000 after purchasing an additional 138 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

PEG has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their price target 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. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Wells Fargo & Company cut their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Hold” and a consensus price target of $89.43.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’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 in the company, valued at $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. 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. In the last three months, insiders have 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 Up 1.3%

PEG opened at $73.53 on Tuesday. The firm has a market capitalization of $36.65 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 2.73 and a beta of 0.51. Public Service Enterprise Group Incorporated has a one year low of $72.53 and a one year high of $87.63. The company has a fifty day moving average price of $78.59 and a 200-day moving average price of $80.31. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts expect 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 company 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 is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Public Service Enterprise Group Company 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.