Cinctive Capital Management LP Cuts Holdings in Public Service Enterprise Group Incorporated $PEG

Cinctive Capital Management LP trimmed its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 40.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 183,031 shares of the utilities provider’s stock after selling 122,425 shares during the quarter. Cinctive Capital Management LP’s holdings in Public Service Enterprise Group were worth $15,276,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PEG. Twin Peaks Wealth Advisors LLC bought a new position in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Cedar Mountain Advisors LLC bought a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth approximately $38,000. Finally, CGC Financial Services LLC raised its holdings in shares of Public Service Enterprise Group by 98.5% during the 3rd quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 258 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the transaction, the chief executive officer directly owned 292,889 shares in the company, valued at approximately $24,503,093.74. This represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays raised their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a report on Thursday, March 5th. Finally, Scotiabank restated a “sector perform” rating and issued a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.88.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $83.75 on Friday. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 2.73 and a beta of 0.60. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The stock has a 50 day moving average price of $82.08 and a 200-day moving average price of $81.79. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.Public Service Enterprise Group’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. 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 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be paid a $0.67 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is currently 63.51%.

Public Service Enterprise Group Company 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.