Wealthfront Advisers LLC Purchases 24,540 Shares of Public Service Enterprise Group Incorporated $PEG

Wealthfront Advisers LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 79.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,278 shares of the utilities provider’s stock after acquiring an additional 24,540 shares during the quarter. Wealthfront Advisers LLC’s holdings in Public Service Enterprise Group were worth $4,475,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC grew its stake in shares of Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares during the last quarter. Woodline Partners LP increased its holdings in Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after purchasing an additional 12,172 shares during the period. Cresset Asset Management LLC raised its position in Public Service Enterprise Group by 27.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 1,040 shares during the last quarter. Jump Financial LLC raised its position in Public Service Enterprise Group by 70.4% during the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock valued at $1,070,000 after purchasing an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Public Service Enterprise Group by 3.0% in the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after buying an additional 1,649 shares during the period. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PEG. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Finally, BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $92.46.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $78.58 on Monday. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The stock’s 50 day simple moving average is $79.60 and its two-hundred day simple moving average is $80.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a market cap of $39.16 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 2.96 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.4%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the sale, the chief executive officer directly owned 285,149 shares of the company’s stock, valued at $22,957,345.99. This represents a 0.73% 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, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares in the company, valued at $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. In the last 90 days, insiders have sold 9,284 shares of company stock worth $746,145. 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.