Public Service Enterprise Group Incorporated $PEG Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC grew its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 14.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 81,675 shares of the utilities provider’s stock after buying an additional 10,149 shares during the period. NEOS Investment Management LLC’s holdings in Public Service Enterprise Group were worth $6,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at $25,000. Community Financial Services Group LLC acquired a new stake in Public Service Enterprise Group during the second quarter worth about $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Public Service Enterprise Group during the second quarter worth about $26,000. Elevation Wealth Partners LLC raised its holdings in shares of 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 worth $28,000 after purchasing an additional 243 shares during the period. Finally, Aberdeen Wealth Management LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter worth about $32,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph LaRossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction that occurred 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 owned 20,970 shares in the company, valued at $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 15,201 shares of company stock valued at $1,172,339 over the last 90 days. 0.19% of the stock is owned by corporate insiders.

Public Service Enterprise Group Trading Down 0.3%

Shares of PEG opened at $73.57 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $72.53 and a 12 month high of $87.63. The stock’s 50-day moving average is $77.21 and its two-hundred day moving average is $79.76. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The stock has a market cap of $36.67 billion, a PE ratio of 18.30, a P/E/G ratio of 2.78 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.67%.

Analysts Set New Price Targets

PEG has been the topic of several research analyst reports. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Truist Financial cut their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. 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. Finally, Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective for the company. 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.