Harrell Investment Partners LLC Sells 33,279 Shares of Public Service Enterprise Group Incorporated $PEG

Harrell Investment Partners LLC reduced its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 92.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,580 shares of the utilities provider’s stock after selling 33,279 shares during the period. Harrell Investment Partners LLC’s holdings in Public Service Enterprise Group were worth $207,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PEG. Empowered Funds LLC increased its holdings in Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares in the last quarter. Woodline Partners LP grew its position in shares of Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after buying an additional 12,172 shares during the period. Global Retirement Partners LLC acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $315,000. Quadrant Capital Group LLC increased its stake in shares of Public Service Enterprise Group by 9.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 8,736 shares of the utilities provider’s stock valued at $735,000 after acquiring an additional 724 shares in the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $106,000. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEG has been the topic of several research analyst reports. JPMorgan Chase & Co. increased 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 research note on Thursday, March 12th. Scotiabank reissued a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $87.50 to $84.50 in a research note on Friday, March 13th. Finally, Barclays raised their price objective on 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. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.88.

Public Service Enterprise Group Trading Up 0.8%

NYSE:PEG opened at $81.38 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25. The company has a market cap of $40.59 billion, a PE ratio of 19.28, a PEG ratio of 2.63 and a beta of 0.60. The firm has a 50-day moving average of $82.75 and a 200-day moving average of $81.80.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The company’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. 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 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.3%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date is Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio is currently 63.51%.

Insider Buying and Selling at Public Service Enterprise Group

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

Public Service Enterprise Group Company 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.