Public Service Enterprise Group Incorporated $PEG Holdings Lifted by Hennessy Advisors Inc.

Hennessy Advisors Inc. increased its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 6.8% in the 2nd quarter, Holdings Channel reports. The fund owned 163,790 shares of the utilities provider’s stock after purchasing an additional 10,500 shares during the period. Hennessy Advisors Inc.’s holdings in Public Service Enterprise Group were worth $13,293,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Community Financial Services Group LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at $26,000. Elevation Wealth Partners LLC grew its holdings in shares of Public Service Enterprise Group by 240.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 243 shares in the last quarter. Finally, Aberdeen Wealth Management LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter worth $32,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PEG shares. Truist Financial reduced their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Citigroup cut their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average price target of $89.43.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $73.07 on Friday. The business’s 50-day simple moving average is $78.06 and its 200-day simple moving average is $80.12. Public Service Enterprise Group Incorporated has a 52 week low of $72.53 and a 52 week high of $87.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The firm has a market cap of $36.42 billion, a price-to-earnings ratio of 18.18, a P/E/G ratio of 2.76 and a beta of 0.51.

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

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.67%.

Insider Buying and Selling

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president directly owned 20,970 shares in the company, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,284 shares of company stock worth $1,332,751 in the last quarter. 0.19% of the stock is currently owned by company insiders.

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.