Haverford Trust Co Takes $806,000 Position in Public Service Enterprise Group Incorporated $PEG

Haverford Trust Co bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the second quarter, Holdings Channel reports. The fund bought 9,934 shares of the utilities provider’s stock, valued at approximately $806,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PEG. Bank of Nova Scotia acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth about $4,547,000. Compass Financial Management LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter worth about $83,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter worth about $891,000. Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $8,281,000. Finally, Commerce Bank purchased a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $3,934,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PEG. Citigroup reduced their price target 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. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price on the stock. Morgan Stanley reduced their target price on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday. Finally, Truist Financial decreased their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $89.43.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. This trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 17,284 shares of company stock valued at $1,332,751. Insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Down 2.6%

Public Service Enterprise Group stock opened at $72.71 on Friday. The firm has a market cap 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 debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The firm’s 50 day moving average price is $78.72 and its two-hundred day moving average price is $80.37. Public Service Enterprise Group Incorporated has a twelve month low of $72.60 and a twelve month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate 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 was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.67%.

About Public Service Enterprise Group

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.