Tocqueville Asset Management L.P. Makes New $1.86 Million Investment in Public Service Enterprise Group Incorporated $PEG

Tocqueville Asset Management L.P. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,963 shares of the utilities provider’s stock, valued at approximately $1,864,000.

A number of other hedge funds have also recently made changes to their positions in the business. Community Financial Services Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Quest 10 Wealth Builders Inc. boosted its stake in 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 valued at $28,000 after purchasing an additional 248 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in 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 valued at $28,000 after purchasing an additional 243 shares during the last quarter. Finally, Bayban purchased a new stake in shares of Public Service Enterprise Group in the fourth quarter worth approximately $33,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $74.67 on Friday. The company has a market capitalization of $37.22 billion, a PE ratio of 18.57, a PEG ratio of 2.84 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. The stock’s 50 day moving average price is $78.86 and its 200-day moving average price is $80.42. Public Service Enterprise Group Incorporated has a twelve month low of $74.20 and a twelve month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate 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 was down 8.9% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.67%.

Analysts Set New Price Targets

PEG has been the topic of several analyst reports. Jefferies Financial Group cut their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Truist Financial dropped their price objective 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. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Finally, Citigroup reduced their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and a consensus target price of $90.23.

Insider Activity

In other news, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction 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 directly owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction dated Wednesday, June 24th. The stock was 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 directly owned 98,815 shares in the company, valued at $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,284 shares of company stock valued at $1,332,751 in the last ninety days. 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.