Ieq Capital LLC Buys New Shares in Public Service Enterprise Group Incorporated $PEG

Ieq Capital LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 54,582 shares of the utilities provider’s stock, valued at approximately $4,430,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sterling Financial Planning Inc. bought a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $269,000. Callan Family Office LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $1,646,000. Expressive Wealth LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $283,000. Keating Financial Advisory Services Inc. acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $55,000. Finally, Allworth Financial LP acquired a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $1,628,000. 73.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Citigroup cut their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Morgan Stanley reduced their target price on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group decreased their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Finally, Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $89.43.

Public Service Enterprise Group Stock Up 1.3%

Public Service Enterprise Group stock opened at $73.53 on Tuesday. The stock has a market cap of $36.65 billion, a P/E ratio of 18.29, a P/E/G ratio of 2.73 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. Public Service Enterprise Group Incorporated has a twelve month low of $72.53 and a twelve month high of $87.63. The company’s 50-day moving average price is $78.59 and its two-hundred day moving average price is $80.31.

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 (EPS) for the quarter, topping 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 quarter in the previous year, the company 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. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

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

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer directly owned 283,656 shares of the company’s stock, valued at $21,691,174.32. This 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 three months, insiders have sold 17,284 shares of company stock valued at $1,332,751. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group 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.