Wealthfront Advisers LLC Buys 24,540 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Wealthfront Advisers LLC increased its stake in Public Service Enterprise Group by 79.8% in the first quarter, buying 24,540 additional shares for a total of 55,278 shares worth about $4.48 million.
• Public Service Enterprise Group reported strong quarterly results, posting EPS of $1.55 versus estimates of $1.44 and revenue of $3.85 billion, while also guiding FY 2026 EPS in the range of 4.280 to 4.400.
• The company declared a quarterly dividend of $0.67 per share, or $2.68 annualized, implying a 3.4% yield; meanwhile, analysts currently rate the stock a consensus Moderate Buy with a $92.46 price target.

Wealthfront Advisers LLC boosted its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 79.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,278 shares of the utilities provider's stock after purchasing an additional 24,540 shares during the quarter. Wealthfront Advisers LLC's holdings in Public Service Enterprise Group were worth $4,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. grew its stake in Public Service Enterprise Group by 3.8% in the 1st quarter. D.A. Davidson & CO. now owns 8,383 shares of the utilities provider's stock worth $679,000 after buying an additional 304 shares in the last quarter. Checchi Capital Advisers LLC raised its position in shares of Public Service Enterprise Group by 11.2% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,400 shares of the utilities provider's stock valued at $599,000 after buying an additional 744 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at $358,000. Retirement Planning Group LLC lifted its holdings in shares of Public Service Enterprise Group by 6.8% during the 1st quarter. Retirement Planning Group LLC now owns 4,082 shares of the utilities provider's stock worth $330,000 after acquiring an additional 260 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its holdings in shares of Public Service Enterprise Group by 17.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 7,549 shares of the utilities provider's stock worth $593,000 after acquiring an additional 1,109 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $78.58 on Monday. The stock has a market cap of $39.16 billion, a PE ratio of 17.38, a PEG ratio of 2.96 and a beta of 0.51. The company's fifty day moving average is $79.60 and its 200 day 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 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 posted its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the business posted $1.43 earnings per share. The company's revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.4%. Public Service Enterprise Group's dividend payout ratio is currently 59.29%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was 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, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the sale, 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 position. 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. Over the last 90 days, insiders have sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PEG has been the subject of several research reports. BMO Capital Markets upped their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a "market perform" rating in a research report on Monday, April 13th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a "sector perform" rating and a $81.00 price target for the company. Jefferies Financial Group lowered Public Service Enterprise Group from a "buy" rating to a "hold" rating and reduced their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Truist Financial raised their price objective on Public Service Enterprise Group from $88.00 to $90.00 and gave the company a "hold" rating in a report on Thursday. Finally, Weiss Ratings downgraded Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $92.46.

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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