Apexium Financial LP Acquires 20,797 Shares of Public Service Enterprise Group Incorporated $PEG

Apexium Financial LP lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,874 shares of the utilities provider’s stock after buying an additional 20,797 shares during the period. Apexium Financial LP’s holdings in Public Service Enterprise Group were worth $7,751,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PEG. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group in the second quarter worth about $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $38,000. Finally, CGC Financial Services LLC boosted its holdings in shares of Public Service Enterprise Group by 98.5% in the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 258 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PEG shares. UBS Group cut their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Scotiabank reissued a “sector perform” rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.88.

Public Service Enterprise Group Trading Down 0.2%

Shares of NYSE PEG opened at $84.72 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $42.25 billion, a PE ratio of 20.08, a PEG ratio of 2.76 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The stock has a fifty day simple moving average of $82.31 and a 200-day simple moving average of $81.81.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the prior year, the company earned $0.84 EPS. Public Service Enterprise Group’s revenue was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.67 per share. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 63.51%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. This represents a 14.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total transaction of $174,263.78. Following the sale, the chief executive officer owned 292,889 shares in the company, valued at approximately $24,503,093.74. This trade represents a 0.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company’s stock.

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.