Jupiter Topco LLC Takes $7.54 Million Position in Public Service Enterprise Group Incorporated $PEG

Jupiter Topco LLC acquired a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, Holdings Channel reports. The fund acquired 92,958 shares of the utilities provider’s stock, valued at approximately $7,544,000.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PEG shares. Wells Fargo & Company reduced their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Jefferies Financial Group dropped their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Morgan Stanley cut their price objective on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $89.43.

Public Service Enterprise Group Trading Down 0.2%

NYSE PEG opened at $73.07 on Monday. Public Service Enterprise Group Incorporated has a 1 year low of $72.53 and a 1 year high of $87.63. 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 company has a market capitalization of $36.42 billion, a PE ratio of 18.18, a P/E/G ratio of 2.76 and a beta of 0.51. The company has a fifty day moving average of $78.06 and a 200 day moving average of $80.11.

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

Public Service Enterprise Group Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend 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 payout ratio is presently 66.67%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, COO Kim C. Hanemann sold 3,035 shares of the 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 sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 15,201 shares of company stock valued at $1,172,339. Corporate insiders own 0.19% of the company’s stock.

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.