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

Denali Advisors LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the fourth quarter, Holdings Channel.com reports. The fund purchased 18,920 shares of the utilities provider’s stock, valued at approximately $1,519,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at $25,000. Cedar Mountain Advisors LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at $27,000. Quest 10 Wealth Builders Inc. raised its position in Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after buying an additional 248 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at $38,000. Finally, CGC Financial Services LLC grew its stake in Public Service Enterprise Group by 98.5% in the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 258 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PEG has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Truist Financial initiated coverage on Public Service Enterprise Group in a research note on Tuesday, April 21st. They issued a “hold” rating and a $91.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.42.

Public Service Enterprise Group Stock Down 0.9%

Shares of NYSE:PEG opened at $77.12 on Friday. The company has a market capitalization of $38.43 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 2.91 and a beta of 0.53. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.60. The business has a fifty day moving average price of $81.94 and a two-hundred day moving average price of $81.57. Public Service Enterprise Group Incorporated has a 1 year low of $76.00 and a 1 year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the company earned $1.43 EPS. The firm’s quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts forecast 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 announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares in the company, valued at approximately $2,363,923. This represents a 14.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $81.21, for a total transaction of $169,160.43. Following the sale, the chief executive officer owned 289,315 shares in the company, valued at $23,495,271.15. The trade was a 0.71% 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 10,949 shares of company stock valued at $902,747 in the last quarter. Corporate insiders own 0.19% of the company’s stock.

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.