Squarepoint Ops LLC Grows Position in Public Service Enterprise Group Incorporated $PEG

Squarepoint Ops LLC lifted its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 1,384.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,038 shares of the utilities provider’s stock after purchasing 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 and hedge funds have also bought and sold shares of PEG. Baird Financial Group Inc. grew its stake in Public Service Enterprise Group by 10.4% in the 2nd quarter. Baird Financial Group Inc. now owns 39,526 shares of the utilities provider’s stock worth $3,208,000 after buying 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% during the 2nd quarter. Allworth Financial LP now owns 20,061 shares of the utilities provider’s stock valued at $1,628,000 after buying an additional 2,509 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Public Service Enterprise Group by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 138,391 shares of the utilities provider’s stock worth $11,232,000 after acquiring an additional 1,568 shares during the last quarter. Edge Wealth Management LLC grew its position in Public Service Enterprise Group by 0.3% in the second quarter. Edge Wealth Management LLC now owns 120,107 shares of the utilities provider’s stock worth $9,748,000 after acquiring an additional 385 shares in the last quarter. Finally, Waverly Advisors LLC increased its stake in Public Service Enterprise Group by 2.9% in the second quarter. Waverly Advisors LLC now owns 16,562 shares of the utilities provider’s stock valued at $1,344,000 after acquiring an additional 467 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, COO Kim Hanemann sold 3,035 shares of Public Service Enterprise Group 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 directly owned 98,815 shares in the company, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph LaRossa sold 2,083 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,201 shares of company stock worth $1,172,339 in the last quarter. 0.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Morgan Stanley cut their target price on Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group cut their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $89.43.

Public Service Enterprise Group Stock Down 2.2%

Shares of NYSE PEG opened at $72.59 on Thursday. The firm has a fifty day simple moving average of $76.74 and a two-hundred day simple moving average of $79.46. Public Service Enterprise Group Incorporated has a 12 month low of $72.08 and a 12 month high of $87.63. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $36.18 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.80 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (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 company had revenue of $2.55 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.67%.

About Public Service Enterprise Group

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.