Inceptionr LLC Takes Position in Public Service Enterprise Group Incorporated $PEG

Inceptionr LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 21,276 shares of the utilities provider’s stock, valued at approximately $1,722,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. grew its stake in Public Service Enterprise Group by 250.5% in 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 in the last quarter. Bayban bought a new stake in Public Service Enterprise Group in the fourth quarter valued at about $33,000. Motiv8 Investments LLC bought a new stake in Public Service Enterprise Group in the fourth quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $44,000. Institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other news, COO Kim C. Hanemann sold 3,035 shares of the business’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 of the company’s stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares of the company’s stock, valued at $22,957,345.99. This represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 9,284 shares of company stock worth $746,145 over the last quarter. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PEG has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their target price on Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating on the stock in a report on Wednesday. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Truist Financial lifted their price objective on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Finally, Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.25.

Public Service Enterprise Group Stock Up 0.3%

NYSE:PEG opened at $79.80 on Friday. The firm has a market capitalization of $39.76 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 2.99 and a beta of 0.51. The stock has a 50 day moving average of $79.67 and a 200-day moving average of $80.84. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) 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 business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the business posted $1.43 EPS. The business’s revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 3.4%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 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.