Fox Hill Wealth Management Purchases Shares of 24,698 Public Service Enterprise Group Incorporated $PEG

Fox Hill Wealth Management acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 24,698 shares of the utilities provider’s stock, valued at approximately $2,004,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Community Financial Services Group LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at $26,000. Elevation Wealth Partners LLC boosted its position in Public Service Enterprise Group by 240.6% in the 2nd 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 acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insiders Place Their Bets

In other 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 transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president directly 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. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 17,284 shares of company stock worth $1,332,751. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PEG has been the subject of several research analyst reports. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Jefferies Financial Group cut their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a report on Monday, July 20th. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Wells Fargo & Company dropped their target price on 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. Finally, Truist Financial cut their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Hold” and a consensus target price of $89.43.

Public Service Enterprise Group Price Performance

NYSE PEG opened at $73.07 on Friday. The company has a 50-day moving average price of $78.06 and a two-hundred day moving average price of $80.12. Public Service Enterprise Group Incorporated has a 52 week low of $72.53 and a 52 week high of $87.63. The stock has a market cap of $36.42 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

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 for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.7%. Public Service Enterprise Group’s payout ratio is presently 66.67%.

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.