Denali Advisors LLC Purchases New Stake in Public Service Enterprise Group Incorporated $PEG

Denali Advisors LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, Holdings Channel reports. The fund purchased 17,220 shares of the utilities provider’s stock, valued at approximately $1,398,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at $25,000. Community Financial Services Group LLC bought a new position in shares of Public Service Enterprise Group in the second quarter valued at about $25,000. Elevation Wealth Partners LLC lifted its stake 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 buying an additional 243 shares during the last quarter. Quest 10 Wealth Builders Inc. lifted its stake 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 buying an additional 248 shares during the last quarter. Finally, Bayban bought a new stake in shares of Public Service Enterprise Group during the 4th quarter worth about $33,000. 73.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup decreased 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 note on Wednesday, August 5th. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective for the company. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Truist Financial lowered their target price on 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. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $90.23.

Insider Activity

In related news, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was 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 of the company’s stock, valued at $1,563,523.20. This 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 the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the transaction, the chief executive officer owned 283,656 shares in the company, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their position. 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. Over the last ninety days, insiders sold 17,284 shares of company stock worth $1,332,751. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Trading Down 0.4%

PEG stock opened at $75.31 on Thursday. Public Service Enterprise Group Incorporated has a 52 week low of $74.20 and a 52 week high of $87.63. The company has a market capitalization of $37.54 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.85 and a beta of 0.51. The company’s 50-day simple moving average is $78.94 and its 200 day simple moving average is $80.48. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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

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.