Wealthfront Advisers LLC Invests $3.91 Million in Public Service Enterprise Group Incorporated $PEG

Wealthfront Advisers LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 48,132 shares of the utilities provider’s stock, valued at approximately $3,906,000.

A number of other hedge funds have also modified their holdings of the business. Community Financial Services Group LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. grew its holdings in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 248 shares during the period. Elevation Wealth Partners LLC boosted 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 worth $28,000 after buying an additional 243 shares in the last quarter. Finally, Bayban purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $33,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 owned 98,815 shares in the company, valued at $8,102,830. This trade represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Public Service Enterprise Group stock in a transaction 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 completion of 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 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 valued at $1,332,751 over the last quarter. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG stock opened at $74.67 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $74.20 and a 52-week high of $87.63. The stock’s fifty day simple moving average is $78.86 and its 200-day simple moving average is $80.42. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $37.22 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.84 and a beta of 0.51.

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

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors 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 yield of 3.6%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.67%.

Analysts Set New Price Targets

A number of research firms recently issued reports on PEG. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Citigroup cut their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Jefferies Financial Group reduced their price objective 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. Wells Fargo & Company decreased their price objective 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, Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. One 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $90.23.

Public Service Enterprise Group 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.