Beacon Pointe Advisors LLC Purchases New Holdings in Public Service Enterprise Group Incorporated $PEG

Key Points

• Beacon Pointe Advisors purchased 27,021 shares of Public Service Enterprise Group, valued at approximately $2.2 million. Institutional investors and hedge funds collectively own 73.34% of PEG.
• PEG shares opened at $73.07, near their 12-month low of $72.53. The company beat quarterly earnings expectations with adjusted EPS of $0.86 versus the $0.80 consensus, although revenue fell 8.9% year over year.
• Public Service Enterprise Group declared a quarterly dividend of $0.67 per share, representing a 3.7% yield. Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $89.43, while insiders have sold shares in recent months.

Beacon Pointe Advisors LLC purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,021 shares of the utilities provider's stock, valued at approximately $2,193,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEG. Simplicity Wealth LLC increased its position in shares of Public Service Enterprise Group by 3.3% in the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider's stock worth $320,000 after purchasing an additional 129 shares during the period. Westfuller Advisors LLC grew its stake in Public Service Enterprise Group by 7.3% during the first quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider's stock worth $153,000 after buying an additional 129 shares in the last quarter. Key Financial Inc increased its holdings in Public Service Enterprise Group by 2.6% in the 4th quarter. Key Financial Inc now owns 5,221 shares of the utilities provider's stock valued at $419,000 after buying an additional 133 shares during the period. Benjamin Edwards Inc. increased its holdings in Public Service Enterprise Group by 4.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider's stock valued at $272,000 after buying an additional 134 shares during the period. Finally, CFS Investment Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 1.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider's stock valued at $1,068,000 after buying an additional 138 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.4%

Shares of PEG stock opened at $73.07 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $72.53 and a twelve month high of $87.63. The stock's fifty day simple moving average is $78.06 and its 200 day simple moving average is $80.12. 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 firm has a market capitalization of $36.42 billion, a P/E ratio of 18.18, a P/E/G ratio of 2.76 and a beta of 0.51.

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 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business's revenue for the quarter was down 8.9% on a year-over-year basis. During the same period last year, the firm posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.7%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 66.67%.

Analyst Upgrades and Downgrades

PEG has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating for the company in a research report on Wednesday, August 5th. Weiss Ratings downgraded Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Morgan Stanley decreased their price target on Public Service Enterprise Group from $93.00 to $91.00 and set an "overweight" rating on the stock in a research note on Friday, August 21st. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Finally, Truist Financial reduced their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating on the stock in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of "Hold" and a consensus target price of $89.43.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares of the company's stock, valued at $21,691,174.32. This trade represents a 0.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 17,284 shares of company stock valued at $1,332,751 in the last ninety days. 0.19% of the stock is currently owned by insiders.

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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