Energy Income Partners LLC Makes New Investment in Public Service Enterprise Group Incorporated $PEG

Energy Income Partners LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,432,413 shares of the utilities provider’s stock, valued at approximately $116,255,000. Public Service Enterprise Group accounts for 1.8% of Energy Income Partners LLC’s investment portfolio, making the stock its 16th biggest holding.

Several other large investors have also added to or reduced their stakes in PEG. Simplicity Wealth LLC lifted its stake in Public Service Enterprise Group by 3.3% in the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after buying an additional 129 shares during the period. Westfuller Advisors LLC grew its position in shares of Public Service Enterprise Group by 7.3% during the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock worth $153,000 after buying an additional 129 shares during the period. Key Financial Inc increased its stake in shares of Public Service Enterprise Group by 2.6% in the 4th quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 133 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Public Service Enterprise Group by 4.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after acquiring an additional 134 shares in the last quarter. Finally, CFS Investment Advisory Services LLC lifted its position in shares of Public Service Enterprise Group by 1.0% during the 4th quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock valued at $1,068,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PEG. Truist Financial cut their target price 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. 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 report on Monday, July 20th. Citigroup cut their price objective on shares of 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. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price for the company. Finally, Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Hold” and a consensus target price of $90.23.

Insider Activity

In related news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 firm’s stock in a transaction 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 transaction, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 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 Stock Up 0.1%

Shares of NYSE PEG opened at $75.70 on Wednesday. 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 company has a 50-day moving average price of $79.01 and a 200-day moving average price of $80.52. The stock has a market capitalization of $37.73 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.86 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1 year low of $74.20 and a 1 year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The firm’s 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, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.67%.

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.