Retirement Planning Co of New England Inc. Invests $316,000 in Public Service Enterprise Group Incorporated $PEG

Key Points

• Retirement Planning Co of New England Inc. has acquired 3,844 shares of Public Service Enterprise Group, with a total investment of around $316,000.
• CEO Ralph A. Larossa sold 1,387 shares at an average price of $83.12, lowering his ownership by 0.63% to approximately 218,328 shares.
• Analysts have mixed ratings on the stock, with a consensus rating of Moderate Buy and a target price of $90.95, following recent adjustments by various investment firms.

Retirement Planning Co of New England Inc. purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,844 shares of the utilities provider's stock, valued at approximately $316,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PEG. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at about $25,000. REAP Financial Group LLC grew its position in shares of Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 162 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $32,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $33,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $50,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total value of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PEG. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Barclays decreased their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Morgan Stanley decreased their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 18th. UBS Group lifted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, BMO Capital Markets lifted their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.95.

Public Service Enterprise Group Price Performance

Shares of PEG stock traded down $0.46 during trading hours on Wednesday, hitting $81.35. The company had a trading volume of 1,589,082 shares, compared to its average volume of 2,650,084. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22. The firm has a market capitalization of $40.60 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.86 and a beta of 0.50. The firm's fifty day moving average is $84.63 and its 200 day moving average is $82.24. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the prior year, the company posted $0.63 EPS. The company's revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.