20,285 Shares in Public Service Enterprise Group Incorporated $PEG Purchased by Callan Family Office LLC

Callan Family Office LLC bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 20,285 shares of the utilities provider's stock, valued at approximately $1,646,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Empowered Funds LLC lifted its holdings in Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock valued at $831,000 after acquiring an additional 940 shares during the last quarter. Woodline Partners LP raised its position in Public Service Enterprise Group by 40.7% in the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider's stock valued at $3,464,000 after purchasing an additional 12,172 shares during the period. Cresset Asset Management LLC raised its position in Public Service Enterprise Group by 27.6% in the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider's stock valued at $405,000 after purchasing an additional 1,040 shares during the period. Jump Financial LLC raised 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 valued at $1,070,000 after purchasing an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 3.0% in the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider's stock valued at $4,785,000 after purchasing an additional 1,649 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.1%

PEG opened at $72.71 on Monday. Public Service Enterprise Group Incorporated has a 52 week low of $72.60 and a 52 week high of $87.63. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The business has a fifty day simple moving average of $78.72 and a 200-day simple moving average of $80.37. The firm has a market cap of $36.24 billion, a P/E ratio of 18.09, a P/E/G ratio of 2.73 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business earned $0.77 EPS. The company's quarterly revenue was down 8.9% 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 analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

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. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group's payout ratio is currently 66.67%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the sale, the chief executive officer directly owned 283,656 shares in the company, valued at $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The sale 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. 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 transaction of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. 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 three months. Company insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PEG. Citigroup lowered their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating for the company in a report on Wednesday, August 5th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an "overweight" rating on the stock in a research report on Friday. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a "sector perform" rating and a $81.00 target price for the company. Truist Financial dropped their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating for the company in a research report on Thursday, August 13th. Finally, Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a research note on Wednesday, August 5th. 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 company's stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of "Hold" and a consensus target price of $89.43.

Public Service Enterprise Group 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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