8,540 Shares of Public Service Enterprise Group Incorporated $PEG Acquired by Abel Hall LLC

Abel Hall LLC purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 3rd quarter, Holdings Channel reports. The firm purchased 8,540 shares of the utilities provider’s stock, valued at approximately $575,000.

Several other large investors have also modified their holdings of PEG. Banque Pictet & Cie SA purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth about $587,000. James T. Borello RIA acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at about $27,000. V Square Quantitative Management LLC lifted its holdings in Public Service Enterprise Group by 12.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 11,064 shares of the utilities provider’s stock valued at $745,000 after purchasing an additional 1,198 shares in the last quarter. Eastern Bank lifted its holdings in Public Service Enterprise Group by 25.8% in the 3rd quarter. Eastern Bank now owns 5,918 shares of the utilities provider’s stock valued at $399,000 after purchasing an additional 1,213 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in Public Service Enterprise Group by 8.5% in the 2nd quarter. QRG Capital Management Inc. now owns 32,696 shares of the utilities provider’s stock valued at $2,654,000 after purchasing an additional 2,559 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEG has been the topic of several recent analyst reports. Truist Financial reduced their price objective on shares of Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday. Morgan Stanley cut their price target on Public Service Enterprise Group from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, September 18th. Weiss Ratings downgraded 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 price target on 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $87.97.

Insider Buying and Selling

In other news, SVP Richard Thigpen sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph LaRossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the completion of the transaction, the chief executive officer owned 279,490 shares of the company’s stock, valued at approximately $18,859,985.20. This trade represents a 0.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,166 shares of company stock valued at $896,328 in the last 90 days. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 1.6%

Public Service Enterprise Group stock traded down $1.18 during midday trading on Monday, hitting $70.31. 3,266,802 shares of the stock were exchanged, compared to its average volume of 3,071,712. Public Service Enterprise Group Incorporated has a 1 year low of $66.15 and a 1 year high of $87.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The firm has a market cap of $35.05 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.69 and a beta of 0.50. The company has a 50 day moving average price of $71.80 and a two-hundred day moving average price of $76.87.

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, topping the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the company posted $0.77 earnings per share. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.