Tulsa Wealth Advisors INC Acquires New Holdings in Public Service Enterprise Group Incorporated $PEG

Tulsa Wealth Advisors INC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,794 shares of the utilities provider’s stock, valued at approximately $633,000.

Several other hedge funds also recently bought and sold shares of the company. Simplicity Wealth LLC grew its holdings in shares of Public Service Enterprise Group by 3.3% in the 4th 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 raised its stake in 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 lifted its holdings in Public Service Enterprise Group by 2.6% during the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock worth $419,000 after acquiring an additional 133 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in Public Service Enterprise Group by 4.3% during the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 134 shares in the last quarter. Finally, CFS Investment Advisory Services LLC lifted its holdings in Public Service Enterprise Group by 1.0% during the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock worth $1,068,000 after acquiring an additional 138 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $21,691,174.32. This represents a 0.73% 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. In the last quarter, insiders have sold 17,284 shares of company stock worth $1,332,751. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

PEG has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price target on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Truist Financial lowered their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday. Citigroup dropped their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Finally, Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday. One research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $90.23.

Public Service Enterprise Group Stock Performance

PEG opened at $76.08 on Monday. The business’s 50-day moving average price is $79.11 and its two-hundred day moving average price is $80.59. Public Service Enterprise Group Incorporated has a 1 year low of $74.20 and a 1 year high of $87.63. The company has a market capitalization of $37.92 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.86 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.5%. Public Service Enterprise Group’s payout ratio is presently 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.