New York State Common Retirement Fund Purchases 2,500 Shares of Public Service Enterprise Group Incorporated $PEG

New York State Common Retirement Fund raised its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,568 shares of the utilities provider’s stock after purchasing an additional 2,500 shares during the period. New York State Common Retirement Fund owned 0.06% of Public Service Enterprise Group worth $23,450,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Keener Financial Planning LLC purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at $27,000. GoalVest Advisory LLC boosted its stake in Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares during the period. Headlands Technologies LLC purchased a new position in Public Service Enterprise Group during the 1st quarter valued at about $32,000. Wealth Preservation Advisors LLC purchased a new position in Public Service Enterprise Group during the 1st quarter valued at about $33,000. Finally, Marshall & Sullivan Inc. WA bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $33,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PEG. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. TD Cowen upped their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Evercore ISI began coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective for the company. Finally, Barclays boosted their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.19.

Public Service Enterprise Group Stock Down 2.3%

PEG opened at $81.57 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The business’s fifty day simple moving average is $82.33 and its 200 day simple moving average is $82.68. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $94.99. The stock has a market cap of $40.72 billion, a PE ratio of 20.60, a P/E/G ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the business posted $0.90 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.1%. The ex-dividend date is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 60.58%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

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.