Plato Investment Management Ltd Makes New $3.80 Million Investment in Public Service Enterprise Group Incorporated $PEG

Plato Investment Management Ltd purchased a new position in Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 47,045 shares of the utilities provider’s stock, valued at approximately $3,796,000.

Several other institutional investors and hedge funds have also bought and sold shares of PEG. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth about $25,000. Community Financial Services Group LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Elevation Wealth Partners LLC raised its position in shares of 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 in the last quarter. Quest 10 Wealth Builders Inc. boosted its position in shares of Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 248 shares during the last quarter. Finally, Bayban bought a new stake in Public Service Enterprise Group during the fourth quarter valued at approximately $33,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $76.08 on Monday. The stock has a market capitalization of $37.92 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.86 and a beta of 0.51. 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 business’s fifty day moving average price is $79.11 and its 200-day moving average price is $80.59. Public Service Enterprise Group Incorporated has a 1-year low of $74.20 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly 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 the consensus estimate of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

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 dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is currently 66.67%.

Analyst Ratings Changes

PEG has been the subject of several research analyst reports. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target for the company. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Truist Financial dropped their price target on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One 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. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.23.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $159,287.01. Following the sale, the chief executive officer directly owned 283,656 shares in the company, valued at $21,691,174.32. This trade represents a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is owned by company insiders.

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.