Elevation Point Wealth Partners LLC Purchases New Position in Public Service Enterprise Group Incorporated $PEG

Elevation Point Wealth Partners LLC purchased a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 10,972 shares of the utilities provider’s stock, valued at approximately $891,000.

Other large investors have also recently made changes to their positions in the company. Community Financial Services Group LLC bought a new stake in Public Service Enterprise Group in the second quarter valued at $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the second quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. bought a new position in Public Service Enterprise Group in the second quarter worth about $26,000. Elevation Wealth Partners LLC lifted its holdings in Public Service Enterprise Group by 240.6% in the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after buying an additional 243 shares during the period. Finally, Bayban purchased a new stake in Public Service Enterprise Group in the fourth quarter worth about $33,000. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $73.53 on Tuesday. Public Service Enterprise Group Incorporated has a 52 week low of $72.53 and a 52 week high of $87.63. The firm has a market capitalization of $36.65 billion, a P/E ratio of 18.29, a PEG ratio of 2.73 and a beta of 0.51. 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 company has a 50-day moving average price of $78.59 and a 200-day moving average price of $80.31.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The firm 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 revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.6%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PEG. Citigroup reduced their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a report on Wednesday, August 5th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price on the stock. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Jefferies Financial Group lowered their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Hold” and an average target price of $89.43.

Insider Activity

In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the transaction, the chief executive officer owned 283,656 shares in the company, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction 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 completion of the sale, the senior vice president 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 17,284 shares of company stock worth $1,332,751 over the last quarter. Insiders own 0.19% of the company’s stock.

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.