Public Service Enterprise Group Incorporated $PEG Shares Acquired by Summit Global Investments

Summit Global Investments raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 30.4% in the third quarter, Holdings Channel.com reports. The firm owned 41,378 shares of the utilities provider’s stock after purchasing an additional 9,645 shares during the period. Summit Global Investments’ holdings in Public Service Enterprise Group were worth $2,786,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PEG. Modera Wealth Management LLC boosted its position in shares of Public Service Enterprise Group by 12.4% in the 3rd quarter. Modera Wealth Management LLC now owns 13,103 shares of the utilities provider’s stock worth $882,000 after purchasing an additional 1,446 shares in the last quarter. International Assets Investment Management LLC increased its position in Public Service Enterprise Group by 47.1% during the 3rd quarter. International Assets Investment Management LLC now owns 10,000 shares of the utilities provider’s stock valued at $673,000 after buying an additional 3,203 shares in the last quarter. Brian Low Financial Group LLC increased its position in Public Service Enterprise Group by 5.1% during the 3rd quarter. Brian Low Financial Group LLC now owns 5,021 shares of the utilities provider’s stock valued at $338,000 after buying an additional 242 shares in the last quarter. Glenview Trust Co raised its stake in Public Service Enterprise Group by 0.3% during the third quarter. Glenview Trust Co now owns 228,675 shares of the utilities provider’s stock valued at $15,399,000 after buying an additional 648 shares during the last quarter. Finally, Soltis Investment Advisors LLC purchased a new position in Public Service Enterprise Group during the third quarter valued at $232,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. The Goldman Sachs Group dropped their target price on Public Service Enterprise Group from $86.00 to $83.00 in a report on Thursday, October 15th. Truist Financial reduced their price target on Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating for the company in a report on Thursday, October 15th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. BTIG Research lowered their price objective on Public Service Enterprise Group from $94.00 to $84.00 and set a “buy” rating on the stock in a research report on Tuesday, October 20th. Finally, LADENBURG THALM/SH SH lowered their target price on shares of Public Service Enterprise Group from $84.50 to $80.50 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Eight equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.00.

Public Service Enterprise Group Stock Up 0.9%

PEG opened at $74.30 on Friday. The firm’s 50 day simple moving average is $71.20 and its two-hundred day simple moving average is $78.04. The company has a market capitalization of $37.03 billion, a PE ratio of 18.48, a PEG ratio of 2.54 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 1-year low of $66.15 and a 1-year high of $87.63. 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 released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%. Public Service Enterprise Group’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts forecast that Public Service Enterprise Group Incorporated will post 4.38 EPS for the current year.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard 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 transaction of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This represents a 27.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph LaRossa sold 2,083 shares of the firm’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $67.48, for a total value of $140,560.84. Following the transaction, the chief executive officer owned 279,490 shares of the company’s stock, valued at approximately $18,859,985.20. The trade was a 0.74% 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. Insiders have sold a total of 12,166 shares of company stock valued at $896,328 in the last three months. Insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.