Sit Investment Associates Inc. Sells 109,152 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• Sit Investment Associates sharply reduced its stake in Public Service Enterprise Group, selling 109,152 shares in the fourth quarter and leaving it with 7,560 shares worth about $607,000.
• Public Service Enterprise Group reported stronger-than-expected quarterly results, with EPS of $1.55 topping estimates and revenue rising 19.4% year over year to $3.85 billion. The company also reiterated FY 2026 EPS guidance of 4.280–4.400.
• The utility declared a quarterly dividend of $0.67 per share, implying an annualized yield of about 3.4%, while analysts currently rate the stock Moderate Buy with an average target price of $93.19.

Sit Investment Associates Inc. reduced its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 93.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,560 shares of the utilities provider's stock after selling 109,152 shares during the period. Sit Investment Associates Inc.'s holdings in Public Service Enterprise Group were worth $607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PEG. Empowered Funds LLC lifted its stake in shares of Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock valued at $831,000 after purchasing an additional 940 shares during the last quarter. Woodline Partners LP increased its position 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 purchasing an additional 12,172 shares during the last quarter. Cresset Asset Management LLC increased its position 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 purchasing an additional 1,040 shares during the last quarter. Jump Financial LLC raised its holdings in Public Service Enterprise Group by 70.4% during the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider's stock valued at $1,070,000 after buying an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider's stock valued at $4,785,000 after buying an additional 1,649 shares during the period. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $79.88 on Friday. The stock has a 50 day moving average price of $79.39 and a 200 day moving average price of $80.76. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The firm has a market capitalization of $39.80 billion, a P/E ratio of 17.67, a P/E/G ratio of 3.01 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the company posted $1.43 EPS. Public Service Enterprise Group's quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group's dividend payout ratio is presently 59.29%.

Analyst Ratings Changes

Several research firms have commented on PEG. Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and reduced their target price for the company from $87.50 to $84.50 in a research note on Friday, March 13th. JPMorgan Chase & Co. raised their target price on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, March 12th. Scotiabank reaffirmed a "sector perform" rating and set a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Finally, BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $93.19.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.01, for a total value of $160,411.83. Following the transaction, the chief executive officer owned 287,232 shares of the company's stock, valued at $22,119,736.32. This trade represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,249 shares of company stock valued at $498,795. Company insiders own 0.19% of the company's stock.

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.

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