Renaissance Technologies LLC Sells 40,400 Shares of Public Service Enterprise Group Incorporated $PEG

Renaissance Technologies LLC cut its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 81.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,500 shares of the utilities provider’s stock after selling 40,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Public Service Enterprise Group were worth $769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth about $25,000. Quest 10 Wealth Builders Inc. grew its holdings in shares of Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 248 shares during the last quarter. Bayban acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $33,000. Motiv8 Investments LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Public Service Enterprise Group in the 3rd quarter valued at approximately $54,000. Institutional investors own 73.34% of the company’s stock.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,284 shares of company stock worth $1,332,751 over the last three months. Company insiders own 0.19% of the company’s stock.

Public Service Enterprise Group Stock Up 0.2%

NYSE:PEG opened at $76.08 on Friday. The firm’s 50 day simple moving average is $79.11 and its 200 day simple moving average is $80.58. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group Incorporated has a one year low of $74.20 and a one year high of $87.63. The company has a market cap of $37.92 billion, a PE ratio of 18.93, a P/E/G ratio of 2.86 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. Public Service Enterprise Group’s payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PEG shares. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. Wells Fargo & Company lowered their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Truist Financial cut their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday. Finally, Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $90.23.

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.