106,981 Shares in Public Service Enterprise Group Incorporated $PEG Purchased by United Capital Financial Advisors LLC

Key Points

• United Capital Financial Advisors purchased 106,981 shares of Public Service Enterprise Group, valued at approximately $8.7 million. Institutional investors and hedge funds collectively own 73.34% of PEG.
• PEG shares traded down 1.0% to $73.29, near the lower end of their 12-month range. The company exceeded quarterly earnings expectations with $0.86 per share, though revenue fell 8.9% year over year.
• Public Service Enterprise Group declared a quarterly dividend of $0.67, equivalent to an annualized $2.68 payout and a 3.7% yield. Analysts have an overall “Hold” rating and an average price target of $89.43.

United Capital Financial Advisors LLC bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 106,981 shares of the utilities provider's stock, valued at approximately $8,683,000.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Public Service Enterprise Group in the second quarter worth about $4,366,570,000. State Street Corp lifted its stake in Public Service Enterprise Group by 2.8% in the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider's stock worth $2,277,404,000 after purchasing an additional 762,591 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Public Service Enterprise Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider's stock valued at $1,021,475,000 after purchasing an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Public Service Enterprise Group by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider's stock valued at $674,218,000 after purchasing an additional 715,051 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 1.0%

NYSE PEG opened at $73.29 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The stock has a market capitalization of $36.53 billion, a P/E ratio of 18.23, a PEG ratio of 2.79 and a beta of 0.51. The firm's 50-day moving average is $78.20 and its two-hundred day moving average is $80.17. Public Service Enterprise Group Incorporated has a 12 month low of $72.53 and a 12 month high of $87.63.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced 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. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.66 billion. During the same period last year, the business earned $0.77 earnings per share. The business's revenue for the quarter was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on PEG. Citigroup lowered their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 5th. Jefferies Financial Group lowered their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a "sector perform" rating and a $81.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Finally, Wall Street Zen downgraded shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $89.43.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares in the company, valued at approximately $21,691,174.32. The trade was a 0.73% 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. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,284 shares of company stock worth $1,332,751 over the last ninety days. Corporate 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.

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