Quantbot Technologies LP Buys Shares of 15,588 Public Service Enterprise Group Incorporated $PEG

Quantbot Technologies LP purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,588 shares of the utilities provider’s stock, valued at approximately $1,265,000.

Several other large investors also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its stake in shares of Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Public Service Enterprise Group by 40.7% during the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after buying an additional 12,172 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of Public Service Enterprise Group by 27.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after buying an additional 1,040 shares in the last quarter. Jump Financial LLC boosted its holdings in Public Service Enterprise Group by 70.4% in the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after buying an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Public Service Enterprise Group by 3.0% in the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after buying an additional 1,649 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $73.29 on Wednesday. The firm’s 50 day simple moving average is $78.44 and its 200 day simple moving average is $80.26. 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 $36.53 billion, a PE ratio of 18.23, a price-to-earnings-growth ratio of 2.77 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1-year low of $72.53 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last announced 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. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the firm earned $0.77 EPS. 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 4.36 earnings per share for the current fiscal 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 dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 66.67%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at $21,691,174.32. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 17,284 shares of company stock worth $1,332,751 over the last ninety days. 0.19% of the stock is owned by corporate insiders.

About Public Service Enterprise Group

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.