Jefferies Financial Group Inc. Acquires New Position in Public Service Enterprise Group Incorporated $PEG

Jefferies Financial Group Inc. acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, HoldingsChannel reports. The fund acquired 8,026 shares of the utilities provider’s stock, valued at approximately $651,000.

A number of other institutional investors have also recently bought and sold shares of PEG. Public Employees Retirement System of Ohio bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $12,135,000. Proficio Capital Partners LLC bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $226,000. Pure Financial Advisors LLC bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $257,000. Corient Private Wealth LP bought a new position in shares of Public Service Enterprise Group in the 2nd quarter worth $20,495,000. Finally, Ausdal Financial Partners Inc. acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $262,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PEG. Truist Financial dropped their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 13th. Wells Fargo & Company reduced their target price on 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. Citigroup decreased their target price on 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. Morgan Stanley lowered their price target on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Finally, Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. One equities research 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’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Hold” and a consensus price target of $89.43.

Insider Activity

In other news, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The stock was 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 15,201 shares of company stock worth $1,172,339 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $73.38 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12-month low of $72.53 and a 12-month high of $87.63. The firm has a fifty day moving average of $77.92 and a 200-day moving average of $80.04. The firm has a market capitalization of $36.57 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm’s revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. 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 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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