United Capital Financial Advisors LLC Invests $8.68 Million in Public Service Enterprise Group Incorporated $PEG

United Capital Financial Advisors LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 106,981 shares of the utilities provider’s stock, valued at approximately $8,683,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEG. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth about $25,000. Community Financial Services Group LLC acquired a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $26,000. Elevation Wealth Partners LLC increased its position in shares of Public Service Enterprise Group by 240.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 243 shares during the last quarter. Finally, Aberdeen Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $32,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

PEG stock opened at $73.29 on Friday. The company has a market capitalization of $36.53 billion, a P/E ratio of 18.23, a PEG ratio of 2.79 and a beta of 0.51. Public Service Enterprise Group Incorporated has a twelve month low of $72.53 and a twelve month high of $87.63. The business has a 50 day simple moving average of $78.20 and a 200-day simple moving average of $80.17. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

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

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Royal Bank Of Canada started 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. Truist Financial dropped their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Wells Fargo & Company cut their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Jefferies Financial Group cut their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Finally, Citigroup reduced their price target on shares of 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. One equities research 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 data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Hold” and an average price target of $89.43.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction that occurred on 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 transaction, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is owned by company insiders.

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.