Cresset Asset Management LLC Grows Position in Public Service Enterprise Group Incorporated $PEG

Cresset Asset Management LLC increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 200.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,449 shares of the utilities provider’s stock after buying an additional 9,638 shares during the quarter. Cresset Asset Management LLC’s holdings in Public Service Enterprise Group were worth $1,206,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PEG. HM Payson & Co. boosted its holdings in shares of Public Service Enterprise Group by 3.3% during the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after acquiring an additional 120 shares during the last quarter. Rossby Financial LCC lifted its position in Public Service Enterprise Group by 5.5% during the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 121 shares during the period. Colonial Trust Co SC lifted its position in Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 121 shares during the period. Transcend Capital Advisors LLC boosted its holdings in Public Service Enterprise Group by 2.6% in the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock worth $410,000 after purchasing an additional 125 shares during the last quarter. Finally, Sage Private Wealth Group LLC boosted its holdings in Public Service Enterprise Group by 4.9% in the third quarter. Sage Private Wealth Group LLC now owns 2,831 shares of the utilities provider’s stock worth $236,000 after purchasing an additional 133 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $84.06 on Tuesday. The business has a 50-day simple moving average of $81.89 and a two-hundred day simple moving average of $81.79. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The stock has a market cap of $41.92 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.71 and a beta of 0.60.

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

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.67 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is presently 59.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays boosted their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target on the stock in a research note on Thursday, March 5th. UBS Group cut their price objective on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Argus raised Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company raised their target price on Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $92.73.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction 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 completion of the sale, the chief executive officer directly owned 292,889 shares of the company’s stock, 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. Corporate 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.