Haverford Trust Co Invests $806,000 in Public Service Enterprise Group Incorporated $PEG

Haverford Trust Co purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,934 shares of the utilities provider’s stock, valued at approximately $806,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the second quarter worth $25,000. Community Financial Services Group LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at $26,000. Elevation Wealth Partners LLC grew its position in shares of Public Service Enterprise Group by 240.6% during the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 243 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its position in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 248 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 related news, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 17,284 shares of company stock valued at $1,332,751. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, August 13th. Citigroup decreased their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Wells Fargo & Company cut their price target on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday. One equities research 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.43.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $72.71 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.60 and a fifty-two week high of $87.63. The firm’s 50-day simple moving average is $78.72 and its 200 day simple moving average is $80.37. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The stock has a market cap of $36.24 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.73 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.67%.

Public Service Enterprise Group 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.