Jupiter Topco LLC Invests $7.54 Million in Public Service Enterprise Group Incorporated $PEG

Jupiter Topco LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 92,958 shares of the utilities provider’s stock, valued at approximately $7,544,000.

Several other institutional investors have also modified their holdings of the stock. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group during the second quarter valued at $25,000. Community Financial Services Group LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Public Service Enterprise Group in the 2nd quarter worth about $26,000. Elevation Wealth Partners LLC boosted its position 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 buying an additional 243 shares during the period. Finally, Aberdeen Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $32,000. 73.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the transaction, the chief executive officer directly owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were 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 of the company’s stock, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 15,201 shares of company stock worth $1,172,339 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PEG shares. Citigroup dropped their target price on shares of 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. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Wells Fargo & Company dropped their price objective on shares of 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. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Finally, Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $89.43.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $73.07 on Monday. The company has a market capitalization of $36.42 billion, a PE ratio of 18.18, a P/E/G ratio of 2.76 and a beta of 0.51. 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 50-day simple moving average of $78.06 and a two-hundred day simple moving average of $80.11. Public Service Enterprise Group Incorporated has a one year low of $72.53 and a one year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating 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 business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The company’s quarterly 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. Research 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. Investors 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 yield of 3.7%. 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.