Elevation Point Wealth Partners LLC Grows Stake in Public Service Enterprise Group Incorporated $PEG

Elevation Point Wealth Partners LLC boosted its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 135.2% during the 1st quarter, HoldingsChannel reports. The fund owned 21,693 shares of the utilities provider’s stock after purchasing an additional 12,468 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Public Service Enterprise Group were worth $1,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Empowered Funds LLC lifted its stake in shares of Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock valued at $831,000 after purchasing an additional 940 shares during the last quarter. Woodline Partners LP raised its holdings in Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after buying an additional 12,172 shares during the period. Cresset Asset Management LLC raised its holdings in Public Service Enterprise Group by 27.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after buying an additional 1,040 shares during the period. Jump Financial LLC lifted its position in Public Service Enterprise Group by 70.4% in the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after buying an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in Public Service Enterprise Group by 3.0% in the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after buying an additional 1,649 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $81.55 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock’s fifty day moving average price is $79.48 and its 200-day moving average price is $80.90. The firm has a market cap of $40.64 billion, a P/E ratio of 18.04, a P/E/G ratio of 3.07 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the firm earned $1.43 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were paid a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PEG. JPMorgan Chase & Co. increased their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Finally, BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $92.32.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the transaction, the chief executive officer directly owned 285,149 shares of the company’s stock, valued at $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. This trade represents a 2.98% 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. Over the last quarter, insiders have sold 9,284 shares of company stock worth $746,145. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Company 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.