Sanctuary Advisors LLC Makes New $6.31 Million Investment in Public Service Enterprise Group Incorporated $PEG

Sanctuary Advisors LLC acquired a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 77,716 shares of the utilities provider’s stock, valued at approximately $6,307,000.

A number of other hedge funds have also recently modified their holdings of the business. Community Financial Services Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at about $26,000. Elevation Wealth Partners LLC boosted its stake in Public Service Enterprise Group by 240.6% during the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 243 shares in the last quarter. Finally, Bayban bought a new stake in Public Service Enterprise Group during the fourth quarter worth about $33,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity

In related news, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction that occurred 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 sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,284 shares of company stock worth $1,332,751 over the last 90 days. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $73.53 on Tuesday. The stock has a market cap of $36.65 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.73 and a beta of 0.51. The firm’s 50-day moving average is $78.59 and its 200 day moving average is $80.31. Public Service Enterprise Group Incorporated has a 1 year low of $72.53 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.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. Public Service Enterprise Group’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared 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 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 is presently 66.67%.

Analysts Set New Price Targets

PEG has been the topic of a number of recent research reports. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Truist Financial lowered their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 13th. Jefferies Financial Group dropped their price target 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. Citigroup cut 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. Finally, Royal Bank Of Canada began coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $89.43.

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.