Renaissance Technologies LLC Has $769,000 Position in Public Service Enterprise Group Incorporated $PEG

Renaissance Technologies LLC lessened its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 81.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,500 shares of the utilities provider’s stock after selling 40,400 shares during the period. Renaissance Technologies LLC’s holdings in Public Service Enterprise Group were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $25,000. Quest 10 Wealth Builders Inc. raised its holdings in Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 248 shares during the period. Bayban bought a new position in Public Service Enterprise Group in the 4th quarter valued at about $33,000. Motiv8 Investments LLC acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $40,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Public Service Enterprise Group during the third quarter worth approximately $54,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.2%

NYSE PEG opened at $76.08 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 1-year low of $74.20 and a 1-year high of $87.63. The company has a 50 day moving average of $79.11 and a 200-day moving average of $80.58. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.86 and a beta of 0.51.

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

Public Service Enterprise Group Dividend Announcement

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

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were 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 of the company’s stock, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,284 shares of company stock valued at $1,332,751 in the last ninety days. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEG. Citigroup decreased their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Truist Financial dropped their price target on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday. Royal Bank Of Canada started coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Finally, Wall Street Zen cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.