Continuum Advisory LLC Grows Position in Public Service Enterprise Group Incorporated $PEG

Continuum Advisory LLC raised its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 240.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,592 shares of the utilities provider’s stock after purchasing an additional 8,183 shares during the quarter. Continuum Advisory LLC’s holdings in Public Service Enterprise Group were worth $931,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Daiwa Securities Group Inc. lifted its holdings in Public Service Enterprise Group by 3.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 88,477 shares of the utilities provider’s stock valued at $7,105,000 after purchasing an additional 3,074 shares during the last quarter. Platform Wealth Management LLC purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at about $228,000. TD Asset Management Inc lifted its holdings in shares of Public Service Enterprise Group by 3.7% in the fourth quarter. TD Asset Management Inc now owns 734,477 shares of the utilities provider’s stock worth $58,979,000 after buying an additional 26,113 shares in the last quarter. Lido Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 4.0% in the fourth quarter. Lido Advisors LLC now owns 26,352 shares of the utilities provider’s stock worth $2,158,000 after buying an additional 1,017 shares in the last quarter. Finally, Sound Shore Management Inc. CT lifted its holdings in shares of Public Service Enterprise Group by 66.6% in the fourth quarter. Sound Shore Management Inc. CT now owns 1,361,981 shares of the utilities provider’s stock worth $109,367,000 after buying an additional 544,634 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Up 1.8%

PEG stock opened at $79.48 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company’s 50 day moving average is $79.80 and its 200 day moving average is $80.97. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 2.94 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is 59.29%.

Analyst Ratings Changes

PEG has been the topic of a number of recent analyst reports. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $90.00 to $89.00 in a report on Wednesday, April 15th. BMO Capital Markets increased their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. Truist Financial lowered their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Scotiabank reissued a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $93.19.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,249 shares of company stock valued at $498,795 in the last quarter. 0.19% of the stock is currently owned by corporate insiders.

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.