Vise Technologies Inc. Invests $1.16 Million in Public Service Enterprise Group Incorporated $PEG

Key Points

• Vise Technologies acquired 14,231 shares of Public Service Enterprise Group in the second quarter, valued at approximately $1.16 million. Institutional investors collectively own 73.34% of PEG.
• PEG reported quarterly EPS of $0.86, exceeding the $0.80 consensus estimate, but revenue fell 8.9% year over year to $2.55 billion. The stock opened at $72.71, near its 12-month low.
• The company declared a quarterly dividend of $0.67 per share, representing a $2.68 annualized payout and a 3.7% yield. Analysts maintain a consensus “Hold” rating with an average price target of $89.43.

Vise Technologies Inc. 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 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,231 shares of the utilities provider's stock, valued at approximately $1,155,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Edmond DE Rothschild Holding S.A. acquired a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $26,000. Csenge Advisory Group acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $289,000. Johnson Financial Group Inc. purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $246,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $1,864,000. Finally, one8zero8 LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth $252,000. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Stock Down 2.6%

Shares of NYSE:PEG opened at $72.71 on Friday. The company has a market capitalization of $36.24 billion, a PE ratio of 18.09, a P/E/G ratio of 2.73 and a beta of 0.51. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a twelve month low of $72.60 and a twelve month high of $87.63. The firm has a 50 day simple moving average of $78.72 and a 200-day simple moving average of $80.37.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results 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. The business had revenue of $2.55 billion during the quarter, compared to analysts' expectations of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company's revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

A number of equities analysts recently commented on PEG shares. 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. Wall Street Zen cut Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Morgan Stanley decreased their price target on Public Service Enterprise Group from $93.00 to $91.00 and set an "overweight" rating for the company in a report on Friday. Jefferies Financial Group lowered their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating for the company in a research report on Monday, July 20th. Finally, Wells Fargo & Company dropped their price objective on 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. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $89.43.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the firm's 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 transaction, the chief operating officer owned 98,815 shares of the company's stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 sale, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,284 shares of company stock worth $1,332,751 over the last 90 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source