Cornerstone Planning LLC Acquires New Position in Public Service Enterprise Group Incorporated $PEG

Cornerstone Planning LLC acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,612 shares of the utilities provider’s stock, valued at approximately $856,000.

Other institutional investors also recently bought and sold shares of the company. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Quest 10 Wealth Builders Inc. increased its holdings 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 worth $28,000 after buying an additional 248 shares during the last quarter. Bayban purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $33,000. Motiv8 Investments LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter valued at approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter valued at approximately $44,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PEG has been the subject of several analyst reports. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a research report on Thursday, March 5th. Jefferies Financial Group downgraded Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. BMO Capital Markets increased their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a report on Monday, April 13th. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One 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 stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Stock Performance

Shares of PEG stock 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 firm has a market cap of $39.80 billion, a P/E ratio of 17.67, a P/E/G ratio of 3.01 and a beta of 0.51. The firm’s 50 day moving average price is $79.39 and its 200-day moving average price is $80.76. Public Service Enterprise Group Incorporated has a one year low of $76.05 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, 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 disclosed 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. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the sale, the chief executive officer owned 287,232 shares in the company, valued at approximately $22,119,736.32. The trade was a 0.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,249 shares of company stock valued at $498,795 over the last ninety days. 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.