Corient Private Wealth LP Takes Position in Public Service Enterprise Group Incorporated $PEG

Corient Private Wealth LP bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, HoldingsChannel.com reports. The firm bought 252,520 shares of the utilities provider’s stock, valued at approximately $20,495,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ausdal Financial Partners Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth about $262,000. Bank of America Corp DE purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $1,207,400,000. Caisse de depot et placement du Quebec acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $109,026,000. Gallagher Fiduciary Advisors LLC purchased a new position in Public Service Enterprise Group in the second quarter worth approximately $225,000. Finally, Man Group plc acquired a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $15,623,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PEG shares. Jefferies Financial Group dropped their price objective on shares of 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. 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 target price on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Wells Fargo & Company decreased their price target on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price 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 the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The sale 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 the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares in the company, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 17,284 shares of company stock worth $1,332,751 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 0.4%

PEG stock 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. 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 is $78.06 and its two-hundred day moving average is $80.12. The stock has a market cap of $36.42 billion, a P/E ratio of 18.18, a PEG ratio of 2.76 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last issued 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 net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The company’s revenue for the quarter 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. Research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. Public Service Enterprise Group’s payout ratio is 66.67%.

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.