Coastal Bridge Advisors LLC Makes New $749,000 Investment in Public Service Enterprise Group Incorporated $PEG

Coastal Bridge Advisors LLC bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, Holdings Channel reports. The fund bought 9,226 shares of the utilities provider’s stock, valued at approximately $749,000.

Several other large investors have also modified their holdings of PEG. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Community Financial Services Group LLC bought a new position in Public Service Enterprise Group in the second quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new position in Public Service Enterprise Group in the second quarter worth approximately $26,000. Elevation Wealth Partners LLC lifted its holdings 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 buying an additional 243 shares during the period. Finally, Aberdeen Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the second quarter worth $32,000. Institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PEG shares. Jefferies Financial Group cut their price target 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. Truist Financial decreased their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. Citigroup dropped their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Wells Fargo & Company cut their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target for the company. One research 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 stock. Based on data from MarketBeat, Public Service Enterprise Group currently has an average rating of “Hold” and an average price target of $89.43.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $73.07 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The firm has a market cap of $36.42 billion, a PE ratio of 18.18, a P/E/G ratio of 2.76 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $72.53 and a 12 month high of $87.63. The stock has a fifty day moving average price of $78.06 and a 200-day moving average price of $80.12.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the company posted $0.77 EPS. The firm’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. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Insider Activity

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the business’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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. 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 corporate insiders.

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.