AQR Capital Management LLC Lowers Stock Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• AQR Capital Management LLC reduced its stake in Public Service Enterprise Group (PEG) by 45.3%, selling over 150,000 shares during the first quarter and ending with approximately 181,720 shares valued at nearly $14.84 million.
• The company recently announced a quarterly dividend of $0.63, yielding 3.1%, to be paid on September 30th, with a payout ratio of 63.64%.
• Public Service Enterprise Group reported an earnings per share (EPS) of $0.77 for the last quarter, exceeding analysts' expectations by $0.07, while its revenue rose by 15.8% year-over-year to $2.81 billion.

AQR Capital Management LLC lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 45.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,720 shares of the utilities provider's stock after selling 150,737 shares during the period. AQR Capital Management LLC's holdings in Public Service Enterprise Group were worth $14,839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEG. REAP Financial Group LLC increased its position in Public Service Enterprise Group by 105.9% in the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 162 shares during the period. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth approximately $32,000. Wealth Preservation Advisors LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth approximately $33,000. Zions Bancorporation National Association UT acquired a new position in Public Service Enterprise Group during the 1st quarter worth approximately $50,000. Finally, Sound Income Strategies LLC boosted its stake in shares of Public Service Enterprise Group by 105.9% during the 1st quarter. Sound Income Strategies LLC now owns 702 shares of the utilities provider's stock worth $58,000 after acquiring an additional 361 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Analyst Ratings Changes

PEG has been the topic of a number of research reports. UBS Group upped their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Morgan Stanley reduced their price target on 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. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Barclays lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Finally, BMO Capital Markets lifted their price target on 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. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.95.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. This represents a 0.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Up 0.9%

PEG traded up $0.71 during mid-day trading on Friday, hitting $82.74. The stock had a trading volume of 1,703,010 shares, compared to its average volume of 2,608,096. The stock's fifty day simple moving average is $84.43 and its 200-day simple moving average is $82.10. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market capitalization of $41.29 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.85 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm's revenue 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. As a group, research analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be given a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. Public Service Enterprise Group's payout ratio is presently 63.64%.

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.