Elevation Point Wealth Partners LLC Boosts Stake in Public Service Enterprise Group Incorporated $PEG

Key Points

• Elevation Point Wealth Partners boosted its stake in Public Service Enterprise Group by 135.2% in Q1, ending with 21,693 shares valued at about $1.76 million.
• The company reported strong quarterly earnings, posting $1.55 EPS versus $1.44 expected, while revenue rose 19.4% year over year to $3.85 billion.
• Public Service Enterprise Group recently paid a quarterly dividend of $0.67 per share ($2.68 annualized), and analysts currently view the stock as a Moderate Buy with an average target price of $92.32.

Elevation Point Wealth Partners LLC increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 135.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,693 shares of the utilities provider's stock after purchasing an additional 12,468 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Public Service Enterprise Group were worth $1,756,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Quest 10 Wealth Builders Inc. grew its stake 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 valued at $28,000 after acquiring an additional 248 shares during the period. Bayban purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $33,000. Motiv8 Investments LLC bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $44,000. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling

In other news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the transaction, the chief executive officer directly owned 285,149 shares of the company's stock, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,284 shares of company stock worth $746,145. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Down 0.1%

Shares of PEG stock opened at $81.55 on Monday. The company's fifty day simple moving average is $79.48 and its two-hundred day simple moving average is $80.90. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25. The stock has a market cap of $40.64 billion, a P/E ratio of 18.04, a PEG ratio of 3.07 and a beta of 0.51. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter last year, the business posted $1.43 earnings per share. The business's quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, June 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 59.29%.

Analyst Ratings Changes

PEG has been the subject of a number of analyst reports. Jefferies Financial Group cut shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Truist Financial lowered their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating on the stock in a research note on Monday, May 18th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Finally, BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $92.32.

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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