Cinctive Capital Management LP Cuts Stake in Public Service Enterprise Group Incorporated $PEG

Cinctive Capital Management LP reduced its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 40.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 183,031 shares of the utilities provider’s stock after selling 122,425 shares during the quarter. Cinctive Capital Management LP’s holdings in Public Service Enterprise Group were worth $15,276,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Twin Peaks Wealth Advisors LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter valued at approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $38,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Public Service Enterprise Group in the 3rd quarter worth approximately $43,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the completion of the transaction, the chief executive officer owned 292,889 shares in the company, valued at approximately $24,503,093.74. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard T. Thigpen sold 4,700 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the transaction, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

PEG has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday. Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target on the stock in a report on Thursday, March 5th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $87.50 to $84.50 in a research report on Friday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average target price of $92.88.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $83.75 on Friday. The company has a market capitalization of $41.77 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.73 and a beta of 0.60. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. The stock’s 50-day simple moving average is $82.08 and its 200-day simple moving average is $81.79. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The firm 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% on a year-over-year basis. During the same quarter 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. As a group, 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. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.67 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. Public Service Enterprise Group’s payout ratio is 63.51%.

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.