Tulsa Wealth Advisors INC Takes Position in Public Service Enterprise Group Incorporated $PEG

Tulsa Wealth Advisors INC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, HoldingsChannel reports. The firm bought 7,794 shares of the utilities provider’s stock, valued at approximately $633,000.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Community Financial Services Group LLC acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. increased its position in shares of Public Service Enterprise Group by 250.5% during the 4th 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 last quarter. Elevation Wealth Partners LLC increased its position in shares of Public Service Enterprise Group by 240.6% during 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 last quarter. Finally, Bayban acquired a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $33,000. Institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PEG shares. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Citigroup dropped their price target on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group cut their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Hold” and an average target price of $90.23.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $76.08 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The stock’s 50 day moving average price is $79.11 and its two-hundred day moving average price is $80.59. The firm has a market capitalization of $37.92 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.86 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12-month low of $74.20 and a 12-month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data 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 company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the firm posted $0.77 earnings per share. The business’s revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% 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 17,284 shares of company stock valued at $1,332,751 in the last quarter. 0.19% of the stock is currently owned by 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.