Benjamin Edwards Inc. Has $3.82 Million Stake in Public Service Enterprise Group Incorporated $PEG

Core Viewpoint - Benjamin Edwards Inc. significantly increased its stake in Public Service Enterprise Group (PEG) by 1,316.2% in Q3, acquiring 42,526 additional shares, bringing its total holdings to 45,757 shares valued at $3.82 million [2][3]. Institutional Holdings - Other institutional investors also increased their stakes in PEG during Q3, with HB Wealth Management LLC growing its holdings by 13.9% to 19,623 shares valued at $1.64 million after acquiring 2,401 shares [3]. - KLP Kapitalforvaltning AS increased its stake by 8.2%, owning 339,909 shares worth $28.37 million after acquiring 25,700 shares [3]. - Overall, 73.34% of PEG's stock is owned by hedge funds and institutional investors [3]. Stock Performance - PEG shares opened at $78.67, with a market capitalization of $39.27 billion, a P/E ratio of 18.91, and a PEG ratio of 2.21 [4]. - The stock has a twelve-month low of $74.67 and a high of $91.25, with a quick ratio of 0.69 and a current ratio of 0.93 [4]. Financial Results - PEG reported Q3 earnings of $1.13 per share, exceeding analysts' expectations of $1.02 by $0.11, with a net margin of 17.77% and a return on equity of 12.62% [5]. - The company achieved revenue of $3.23 billion for the quarter, surpassing the consensus estimate of $2.80 billion, marking a year-over-year revenue increase of 22.1% [5]. Dividend Information - PEG announced a quarterly dividend of $0.63, representing an annualized dividend of $2.52 and a yield of 3.2%, with a payout ratio of 60.58% [6]. Insider Transactions - SVP Richard T. Thigpen sold 4,920 shares at an average price of $82.33, totaling approximately $405,063.60, which decreased his ownership by 15.84% [7]. Analyst Ratings - TD Cowen raised its price target for PEG from $93.00 to $96.00, maintaining a "buy" rating, while JPMorgan Chase lowered its target from $96.00 to $88.00 with an "overweight" rating [9]. - The consensus rating for PEG is "Moderate Buy" with an average price target of $91.35, with ten analysts rating it as a buy and four as hold [9]. Company Overview - Public Service Enterprise Group is a diversified energy company primarily operating in New Jersey, focusing on regulated utility services and energy generation [10]. - Its regulated utility arm, Public Service Electric and Gas Company (PSE&G), manages electric and gas networks, customer connections, and system reliability [11].