Elevatus Welath Management Makes New $840,000 Investment in Public Service Enterprise Group Incorporated $PEG

Elevatus Welath Management purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 10,466 shares of the utilities provider’s stock, valued at approximately $840,000.

A number of other large investors also recently made changes to their positions in PEG. Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $564,238,000. Bank of America Corp DE increased its stake in Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Invesco Ltd. lifted its position in Public Service Enterprise Group by 27.8% during the second quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock worth $544,973,000 after buying an additional 1,408,707 shares during the period. Railway Pension Investments Ltd lifted its position in Public Service Enterprise Group by 97.5% during the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after buying an additional 937,100 shares during the period. Finally, ATLAS Infrastructure Partners UK Ltd. acquired a new stake in Public Service Enterprise Group in the 2nd quarter worth about $61,174,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Scotiabank restated a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. UBS Group decreased their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, Wells Fargo & Company increased their price target on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $92.88.

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the sale, the chief executive officer owned 292,889 shares of the company’s stock, valued at approximately $24,503,093.74. This trade represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Price Performance

PEG opened at $80.74 on Friday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.25. The company has a 50 day moving average of $82.71 and a two-hundred day moving average of $81.79. The company has a market cap of $40.27 billion, a P/E ratio of 19.13, a P/E/G ratio of 2.62 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.84 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.3%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s dividend payout ratio is 63.51%.

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.