Glenview Trust Co Raises Holdings in Public Service Enterprise Group Incorporated $PEG

Glenview Trust Co increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 3.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 226,167 shares of the utilities provider’s stock after buying an additional 6,614 shares during the period. Glenview Trust Co’s holdings in Public Service Enterprise Group were worth $18,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PEG. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. boosted its position in Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 248 shares in the last quarter. Bayban bought a new stake in Public Service Enterprise Group during the fourth quarter valued at about $33,000. Motiv8 Investments LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PEG shares. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target for the company. Jefferies Financial Group cut 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. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.68.

Public Service Enterprise Group Trading Down 1.0%

Shares of NYSE:PEG opened at $77.85 on Tuesday. The business’s 50-day moving average is $79.61 and its 200 day moving average is $80.88. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The firm has a market capitalization of $38.80 billion, a P/E ratio of 17.22, a P/E/G ratio of 2.96 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter last year, the company earned $1.43 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, 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 transaction of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. The trade was a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,284 shares of company stock valued at $746,145 over the last ninety days. 0.19% of the stock is currently owned by insiders.

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.