Denali Advisors LLC Buys New Position in Public Service Enterprise Group Incorporated $PEG

Denali Advisors LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 17,220 shares of the utilities provider’s stock, valued at approximately $1,398,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $4,366,570,000. Norges Bank bought a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $552,280,000. Bank of America Corp DE lifted its position in shares of Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Public Service Enterprise Group during the second quarter worth $221,632,000. Finally, Vanguard Group Inc. boosted its holdings in Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after purchasing an additional 2,189,951 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer directly owned 283,656 shares of the company’s stock, 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 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 firm’s 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 completion of the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This trade represents 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 17,284 shares of company stock worth $1,332,751 in the last ninety days. Insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Truist Financial lowered their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note 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. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Citigroup dropped their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $90.23.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $75.31 on Thursday. 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 current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The firm has a fifty day simple moving average of $78.94 and a 200 day simple moving average of $80.48. The stock has a market capitalization of $37.54 billion, a PE ratio of 18.73, a P/E/G ratio of 2.85 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share 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 business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the company earned $0.77 earnings per share. The firm’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, research 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. Public Service Enterprise Group’s payout ratio 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.