Tidal Investments LLC Raises Position in Public Service Enterprise Group Incorporated $PEG

Tidal Investments LLC raised its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 185.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,489 shares of the utilities provider’s stock after buying an additional 126,300 shares during the quarter. Tidal Investments LLC’s holdings in Public Service Enterprise Group were worth $15,785,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. National Pension Service lifted its holdings in Public Service Enterprise Group by 2.8% during the 2nd quarter. National Pension Service now owns 732,199 shares of the utilities provider’s stock worth $59,425,000 after purchasing an additional 19,898 shares in the last quarter. WINTON GROUP Ltd boosted its stake in Public Service Enterprise Group by 86.2% in the 2nd quarter. WINTON GROUP Ltd now owns 15,337 shares of the utilities provider’s stock worth $1,245,000 after purchasing an additional 7,101 shares during the period. Engineers Gate Manager LP grew its holdings in Public Service Enterprise Group by 74.4% during the 2nd quarter. Engineers Gate Manager LP now owns 105,592 shares of the utilities provider’s stock valued at $8,570,000 after buying an additional 45,056 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in Public Service Enterprise Group by 9.1% during the 2nd quarter. Cidel Asset Management Inc. now owns 3,869 shares of the utilities provider’s stock valued at $314,000 after buying an additional 323 shares in the last quarter. Finally, Capital Analysts LLC increased its position in shares of Public Service Enterprise Group by 209.3% during the second quarter. Capital Analysts LLC now owns 10,239 shares of the utilities provider’s stock valued at $831,000 after buying an additional 6,929 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Wells Fargo & Company decreased their price target on shares of 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. Jefferies Financial Group dropped their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, July 20th. 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. Citigroup decreased their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Finally, Morgan Stanley lowered their price target on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.43.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $72.54 on Friday. The company’s fifty day moving average price is $76.56 and its 200-day moving average price is $79.37. 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 firm has a market capitalization of $36.16 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.73 and a beta of 0.50. Public Service Enterprise Group Incorporated has a one year low of $72.08 and a one year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm 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 anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.7%. Public Service Enterprise Group’s payout ratio is 66.67%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph LaRossa sold 2,083 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the transaction, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 15,201 shares of company stock worth $1,172,339. 0.19% of the stock is currently owned by corporate insiders.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.