Public Service Enterprise Group Incorporated $PEG Shares Purchased by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 242.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,397 shares of the utilities provider’s stock after acquiring an additional 8,781 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Public Service Enterprise Group were worth $1,004,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PEG. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Quest 10 Wealth Builders Inc. lifted its position in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares during the last quarter. Bayban bought a new position in shares of Public Service Enterprise Group during the fourth quarter worth about $33,000. Motiv8 Investments LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $44,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.0%

Public Service Enterprise Group stock opened at $83.50 on Friday. 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 debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The firm has a market capitalization of $41.61 billion, a price-to-earnings ratio of 18.47, a P/E/G ratio of 3.14 and a beta of 0.51. The company has a 50 day moving average price of $79.36 and a 200 day moving average price of $80.81.

Public Service Enterprise Group (NYSE:PEG) last announced its 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. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. BMO Capital Markets lifted their target price on 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. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a report on Thursday, March 5th. Wells Fargo & Company boosted 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, Weiss Ratings lowered 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 seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $93.19.

Insider Activity

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the sale, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at approximately $22,119,736.32. This represents a 0.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 9,284 shares of company stock valued at $747,665. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group 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.