376,400 Shares in Public Service Enterprise Group Incorporated $PEG Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, Holdings Channel reports. The firm purchased 376,400 shares of the utilities provider’s stock, valued at approximately $31,685,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Spirit of America Management Corp NY increased its position in Public Service Enterprise Group by 9.3% during the second quarter. Spirit of America Management Corp NY now owns 14,150 shares of the utilities provider’s stock worth $1,191,000 after purchasing an additional 1,200 shares during the last quarter. Hamlin Capital Management LLC grew its stake in Public Service Enterprise Group by 0.7% during the second quarter. Hamlin Capital Management LLC now owns 2,476,266 shares of the utilities provider’s stock worth $208,452,000 after buying an additional 16,951 shares during the period. Stanley Laman Group Ltd. grew its stake in Public Service Enterprise Group by 17.0% during the second quarter. Stanley Laman Group Ltd. now owns 3,522 shares of the utilities provider’s stock worth $296,000 after buying an additional 512 shares during the period. Chevy Chase Trust Holdings LLC grew its stake in Public Service Enterprise Group by 0.9% during the second quarter. Chevy Chase Trust Holdings LLC now owns 263,941 shares of the utilities provider’s stock worth $22,219,000 after buying an additional 2,271 shares during the period. Finally, Applied Finance Capital Management LLC grew its stake in Public Service Enterprise Group by 5.5% during the second quarter. Applied Finance Capital Management LLC now owns 151,319 shares of the utilities provider’s stock worth $12,738,000 after buying an additional 7,939 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Price Performance

Shares of PEG stock opened at $84.77 on Monday. The company has a market capitalization of $42.30 billion, a PE ratio of 21.41, a price-to-earnings-growth ratio of 2.60 and a beta of 0.53. The firm has a fifty day simple moving average of $82.74 and a 200-day simple moving average of $82.23. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm posted $0.63 EPS. 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. Equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

PEG has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Barclays decreased their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. TD Cowen began coverage on shares of Public Service Enterprise Group in a research note on Thursday. They issued a “buy” rating and a $93.00 target price for the company. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, UBS Group upped their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.14.

Public Service Enterprise Group 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.