Drake & Associates LLC Has $1.65 Million Stake in Public Service Enterprise Group Incorporated $PEG

Drake & Associates LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 28.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,561 shares of the utilities provider’s stock after selling 8,318 shares during the quarter. Drake & Associates LLC’s holdings in Public Service Enterprise Group were worth $1,651,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEG. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at $25,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the period. Motiv8 Investments LLC bought a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Public Service Enterprise Group during the fourth quarter valued at about $44,000. Finally, TFC Financial Management Inc. lifted its stake in shares of Public Service Enterprise Group by 3,000.0% during the 4th quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock valued at $47,000 after buying an additional 570 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PEG. Scotiabank reaffirmed a “sector perform” rating and set a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Barclays increased their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Jefferies Financial Group lowered shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Finally, Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.19.

Public Service Enterprise Group Price Performance

PEG opened at $79.88 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a market capitalization of $39.80 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.51. The stock’s 50 day moving average price is $79.45 and its 200-day moving average price is $80.77. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25.

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

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 59.29%.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at $22,119,736.32. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,249 shares of company stock worth $498,795 in the last 90 days. 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.