Glenview Trust Co Takes Position in Public Service Enterprise Group Incorporated $PEG

Glenview Trust Co acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, HoldingsChannel reports. The fund acquired 228,027 shares of the utilities provider’s stock, valued at approximately $18,507,000.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC boosted 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 valued at $831,000 after acquiring an additional 940 shares during the last quarter. Woodline Partners LP increased its stake in Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after acquiring an additional 12,172 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of Public Service Enterprise Group by 27.6% in the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after purchasing an additional 1,040 shares during the period. Jump Financial LLC raised its holdings in shares of Public Service Enterprise Group by 70.4% in the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after purchasing an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of Public Service Enterprise Group by 3.0% in the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after purchasing an additional 1,649 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred 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 sale, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares in the company, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,284 shares of company stock valued at $1,332,751 over the last 90 days. 0.19% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PEG shares. Citigroup decreased their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Finally, Jefferies Financial Group dropped their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $89.43.

Public Service Enterprise Group Trading Down 1.0%

Shares of PEG opened at $73.29 on Friday. Public Service Enterprise Group Incorporated has a 12 month low of $72.53 and a 12 month high of $87.63. The stock’s 50-day moving average is $78.20 and its two-hundred day moving average is $80.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The stock has a market cap of $36.53 billion, a PE ratio of 18.23, a P/E/G ratio of 2.79 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results 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 business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts forecast 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 66.67%.

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.