Global Retirement Partners LLC Takes $892,000 Position in Public Service Enterprise Group Incorporated $PEG

Global Retirement Partners LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,989 shares of the utilities provider’s stock, valued at approximately $892,000.

Other institutional investors have also recently made changes to their positions in the company. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Community Financial Services Group LLC purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at $25,000. Elevation Wealth Partners LLC raised its position in shares of Public Service Enterprise Group by 240.6% during the 2nd 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 in the last quarter. Quest 10 Wealth Builders Inc. lifted its stake in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 248 shares during the last quarter. Finally, Bayban bought a new position in Public Service Enterprise Group during the fourth quarter valued at $33,000. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Public Service Enterprise Group stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This trade represents a 27.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,284 shares of company stock worth $1,332,751 over the last quarter. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Stock Up 0.1%

PEG opened at $75.70 on Wednesday. The company has a market cap of $37.73 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.86 and a beta of 0.51. Public Service Enterprise Group Incorporated has a one year low of $74.20 and a one year high of $87.63. The business’s fifty day moving average is $79.01 and its two-hundred day moving average is $80.52. 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) last issued its quarterly earnings data 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. 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 for 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 business’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. Analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.5%. Public Service Enterprise Group’s payout ratio is presently 66.67%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Wells Fargo & Company dropped their price target on 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. Citigroup dropped their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a 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 note on Thursday, August 13th. Finally, Jefferies Financial Group dropped their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a report on Monday, July 20th. One equities research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.23.

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.