Fox Hill Wealth Management Acquires New Stake in Public Service Enterprise Group Incorporated $PEG

Fox Hill Wealth Management bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 24,698 shares of the utilities provider’s stock, valued at approximately $2,004,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEG. Community Financial Services Group LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at $26,000. Elevation Wealth Partners LLC boosted its stake in Public Service Enterprise Group by 240.6% during the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after buying an additional 243 shares in the last quarter. Finally, Aberdeen Wealth Management LLC bought a new position in Public Service Enterprise Group during the second quarter valued at about $32,000. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEG has been the topic of a number of research analyst reports. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price on the stock. Citigroup cut 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 report on Wednesday, August 5th. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Truist Financial lowered their price objective on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Finally, Jefferies Financial Group dropped their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $89.43.

Public Service Enterprise Group Stock Down 0.4%

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

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $2.66 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Public Service Enterprise Group’s revenue 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 anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid 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 yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio is currently 66.67%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of the firm’s 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 in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,284 shares of company stock worth $1,332,751 over the last ninety days. 0.19% of the stock is currently owned by company insiders.

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.