Focus Partners Wealth Acquires 2,075 Shares of Public Service Enterprise Group Incorporated $PEG

Focus Partners Wealth boosted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,312 shares of the utilities provider’s stock after purchasing an additional 2,075 shares during the period. Focus Partners Wealth’s holdings in Public Service Enterprise Group were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. REAP Financial Group LLC boosted its holdings in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 162 shares during the period. Headlands Technologies LLC purchased a new position in Public Service Enterprise Group during the 1st quarter valued at $32,000. Wealth Preservation Advisors LLC purchased a new position in Public Service Enterprise Group during the 1st quarter valued at $33,000. Zions Bancorporation National Association UT purchased a new position in Public Service Enterprise Group during the 1st quarter valued at $50,000. Finally, Sound Income Strategies LLC grew its stake in Public Service Enterprise Group by 105.9% in the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 361 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,387 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 18th. UBS Group upped their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Barclays dropped their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Finally, BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $91.55.

Public Service Enterprise Group Trading Up 0.4%

NYSE PEG opened at $83.02 on Tuesday. The company has a fifty day simple moving average of $84.47 and a two-hundred day simple moving average of $82.11. The stock has a market cap of $41.43 billion, a P/E ratio of 20.96, a P/E/G ratio of 2.88 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.0%. Public Service Enterprise Group’s dividend payout ratio is presently 63.64%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.