Sanctuary Advisors LLC Takes Position in Public Service Enterprise Group Incorporated $PEG

Sanctuary Advisors LLC bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 77,716 shares of the utilities provider’s stock, valued at approximately $6,307,000.

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

Analyst Upgrades and Downgrades

PEG has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Wells Fargo & Company cut their target price 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. Jefferies Financial Group reduced their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Truist Financial lowered their price target on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Finally, Citigroup dropped their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $89.43.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $73.53 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The firm’s fifty day simple moving average is $78.59 and its 200 day simple moving average is $80.31. The stock has a market cap 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 twelve month low of $72.53 and a twelve month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data 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 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 business earned $0.77 EPS. The company’s revenue for the quarter 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. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.6%. Public Service Enterprise Group’s payout ratio is currently 66.67%.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was 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 of the company’s stock, valued at $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,284 shares of company stock valued at $1,332,751 over the last three months. Corporate insiders own 0.19% of the company’s stock.

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.