Squarepoint Ops LLC Increases Holdings in Public Service Enterprise Group Incorporated $PEG

Squarepoint Ops LLC grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 1,384.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,038 shares of the utilities provider’s stock after acquiring an additional 183,769 shares during the quarter. Squarepoint Ops LLC’s holdings in Public Service Enterprise Group were worth $15,992,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PEG. Baird Financial Group Inc. increased its holdings in shares of Public Service Enterprise Group by 10.4% during the second quarter. Baird Financial Group Inc. now owns 39,526 shares of the utilities provider’s stock valued at $3,208,000 after acquiring an additional 3,739 shares in the last quarter. Allworth Financial LP raised its position in shares of Public Service Enterprise Group by 14.3% in the 2nd quarter. Allworth Financial LP now owns 20,061 shares of the utilities provider’s stock worth $1,628,000 after purchasing an additional 2,509 shares during the last quarter. Arizona State Retirement System boosted its stake in Public Service Enterprise Group by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 138,391 shares of the utilities provider’s stock worth $11,232,000 after purchasing an additional 1,568 shares in the last quarter. Edge Wealth Management LLC boosted its stake in Public Service Enterprise Group by 0.3% in the 2nd quarter. Edge Wealth Management LLC now owns 120,107 shares of the utilities provider’s stock worth $9,748,000 after purchasing an additional 385 shares in the last quarter. Finally, Waverly Advisors LLC grew its position in Public Service Enterprise Group by 2.9% during the 2nd quarter. Waverly Advisors LLC now owns 16,562 shares of the utilities provider’s stock valued at $1,344,000 after purchasing an additional 467 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction dated 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 in the company, 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 SEC, which can be accessed through this hyperlink. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 15,201 shares of company stock valued at $1,172,339. 0.19% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PEG has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Citigroup dropped their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Truist Financial cut their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $89.43.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $72.59 on Thursday. The firm has a market capitalization of $36.18 billion, a P/E ratio of 18.06, a PEG ratio of 2.80 and a beta of 0.50. 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 $72.08 and a one year high of $87.63. The business has a fifty day moving average of $76.74 and a 200 day moving average of $79.46.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’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. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business 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 dividend of $0.67 per share. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. Public Service Enterprise Group’s payout ratio is 66.67%.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.