Westwood Wealth Management Buys Shares of 28,562 Public Service Enterprise Group Incorporated $PEG

Westwood Wealth Management purchased a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 28,562 shares of the utilities provider’s stock, valued at approximately $2,294,000. Public Service Enterprise Group makes up 1.7% of Westwood Wealth Management’s investment portfolio, making the stock its 19th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PEG. Sax Wealth Advisors LLC lifted its holdings in Public Service Enterprise Group by 12.0% during the fourth quarter. Sax Wealth Advisors LLC now owns 7,445 shares of the utilities provider’s stock worth $598,000 after buying an additional 799 shares during the period. Czech National Bank raised its position in shares of Public Service Enterprise Group by 3.8% in the 4th quarter. Czech National Bank now owns 131,619 shares of the utilities provider’s stock worth $10,569,000 after acquiring an additional 4,863 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Public Service Enterprise Group by 10.5% in the 4th quarter. DAVENPORT & Co LLC now owns 3,074 shares of the utilities provider’s stock worth $247,000 after acquiring an additional 291 shares in the last quarter. Pensionfund Sabic purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $1,301,000. Finally, Clear Trail Advisors LLC purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth $2,009,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PEG has been the topic of several analyst reports. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a research note on Thursday, March 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $87.50 to $84.50 in a report on Friday, March 13th. Argus raised shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average target price of $92.88.

Public Service Enterprise Group Stock Down 0.7%

Shares of PEG stock opened at $80.47 on Friday. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $91.25. The stock’s fifty day moving average price is $82.68 and its 200 day moving average price is $81.79. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60. The company has a market cap of $40.13 billion, a price-to-earnings ratio of 19.07, a price-to-earnings-growth ratio of 2.64 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s payout ratio is 63.51%.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This trade represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total transaction of $174,263.78. Following the sale, the chief executive officer directly owned 292,889 shares in the company, valued at approximately $24,503,093.74. This represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is owned by company insiders.

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.