NewEdge Wealth LLC Acquires 6,621 Shares of Public Service Enterprise Group Incorporated $PEG

NewEdge Wealth LLC raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 188.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,136 shares of the utilities provider’s stock after buying an additional 6,621 shares during the period. NewEdge Wealth LLC’s holdings in Public Service Enterprise Group were worth $814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. increased its stake in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Public Service Enterprise Group during the third quarter worth approximately $43,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth approximately $44,000. Finally, Colonial Trust Co SC increased its stake in shares of Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 121 shares during the period. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a research note on Thursday, March 5th. Barclays increased their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Finally, Wells Fargo & Company increased their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.42.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the sale, the chief executive officer directly owned 289,315 shares in the company, valued at approximately $23,495,271.15. This represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 10,949 shares of company stock worth $902,747 in the last three months. 0.19% of the stock is currently owned by company insiders.

Public Service Enterprise Group Trading Down 1.6%

Shares of NYSE:PEG opened at $76.51 on Friday. The company has a market capitalization of $38.12 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.93 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 1 year low of $76.09 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The business’s 50 day simple moving average is $81.04 and its 200 day simple moving average is $81.33.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Public Service Enterprise Group Company 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.