Commerzbank Aktiengesellschaft FI Acquires Shares of 17,688 Public Service Enterprise Group Incorporated $PEG

Commerzbank Aktiengesellschaft FI bought a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, Holdings Channel.com reports. The fund bought 17,688 shares of the utilities provider’s stock, valued at approximately $1,436,000.

A number of other institutional investors have also modified their holdings of the stock. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $25,000. Community Financial Services Group LLC bought a new position in Public Service Enterprise Group in the second quarter worth approximately $25,000. Elevation Wealth Partners LLC increased its holdings in Public Service Enterprise Group by 240.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 243 shares during the period. Quest 10 Wealth Builders Inc. increased its holdings in Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the period. Finally, Bayban bought a new stake in Public Service Enterprise Group during the 4th quarter valued at $33,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $75.70 on Wednesday. The company has a market capitalization of $37.73 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 2.86 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52 week low of $74.20 and a 52 week high of $87.63. 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 firm has a 50 day moving average of $79.01 and a 200 day moving average of $80.52.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (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 business had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the firm earned $0.77 EPS. The business’s revenue for the quarter was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. Jefferies Financial Group decreased their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a report on Monday, July 20th. Truist Financial lowered their price objective on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday, August 13th. Finally, Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.23.

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 dated 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 directly owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. 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. 0.19% of the stock is owned by corporate insiders.

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.