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

Coastal Bridge Advisors 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 filing with the SEC. The fund bought 9,226 shares of the utilities provider’s stock, valued at approximately $749,000.

Several other large investors have also recently modified their holdings of PEG. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the second quarter worth $25,000. Community Financial Services Group LLC bought a new position in Public Service Enterprise Group during the second quarter valued at $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at $26,000. Elevation Wealth Partners LLC raised its stake in shares of Public Service Enterprise Group by 240.6% in the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 243 shares during the period. Finally, Aberdeen Wealth Management LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $32,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity

In related news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value 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. The trade was a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 17,284 shares of company stock valued at $1,332,751. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4%

NYSE PEG opened at $73.07 on Friday. The stock has a market cap of $36.42 billion, a PE ratio of 18.18, a PEG ratio of 2.76 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $72.53 and a 12 month high of $87.63. The company’s 50-day moving average price is $78.06 and its 200-day moving average price is $80.12. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the business posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced 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 of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.67%.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Morgan Stanley decreased 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. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price for the company. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.43.

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.