Public Service Enterprise Group Incorporated $PEG Shares Sold by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP reduced its holdings in Public Service Enterprise Group by 69.9%, now owning 97,003 shares after selling 225,326 shares in the first quarter.
• Public Service Enterprise Group recently announced a quarterly dividend of $0.63 per share, representing a 3.1% yield, with a payout ratio of 63.64%.
• Wall Street analysts have varied ratings for the company, with a consensus rating of "Moderate Buy" and a target price of $90.95, while some have downgraded their ratings to "sell."

Cinctive Capital Management LP trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 69.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 97,003 shares of the utilities provider's stock after selling 225,326 shares during the quarter. Cinctive Capital Management LP's holdings in Public Service Enterprise Group were worth $7,983,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Clark Capital Management Group Inc. purchased a new stake in Public Service Enterprise Group during the 1st quarter valued at about $228,000. Alliancebernstein L.P. lifted its stake in shares of Public Service Enterprise Group by 0.6% in the first quarter. Alliancebernstein L.P. now owns 549,643 shares of the utilities provider's stock worth $45,236,000 after buying an additional 3,455 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Public Service Enterprise Group during the first quarter valued at approximately $171,000. Advisors Asset Management Inc. increased its position in shares of Public Service Enterprise Group by 7.7% during the first quarter. Advisors Asset Management Inc. now owns 10,183 shares of the utilities provider's stock valued at $838,000 after acquiring an additional 726 shares in the last quarter. Finally, Aprio Wealth Management LLC bought a new position in Public Service Enterprise Group in the 1st quarter valued at approximately $218,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Price Performance

Shares of PEG traded up $0.54 during mid-day trading on Tuesday, reaching $80.10. The stock had a trading volume of 1,485,907 shares, compared to its average volume of 2,852,792. The business has a fifty day moving average of $84.47 and a 200 day moving average of $82.13. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The firm has a market cap of $39.98 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.82 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the business earned $0.63 EPS. The business's revenue for the quarter was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group's payout ratio is currently 63.64%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PEG. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Barclays dropped their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Finally, UBS Group raised their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.95.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.