New York State Teachers Retirement System Buys 48,004 Shares of Public Service Enterprise Group Incorporated $PEG

New York State Teachers Retirement System raised its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 442,520 shares of the utilities provider’s stock after purchasing an additional 48,004 shares during the quarter. New York State Teachers Retirement System’s holdings in Public Service Enterprise Group were worth $35,822,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PEG. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Quest 10 Wealth Builders Inc. increased its position in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after buying an additional 248 shares during the period. Bayban purchased a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $33,000. Motiv8 Investments LLC bought a new position in Public Service Enterprise Group in the fourth quarter worth about $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Public Service Enterprise Group in the fourth quarter worth about $44,000. 73.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PEG has been the topic of several research reports. Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. BMO Capital Markets increased their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, April 13th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday. They issued a “sector perform” rating and a $81.00 target price for the company. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Finally, LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price target for the company from $87.50 to $84.50 in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $92.32.

Public Service Enterprise Group Stock Down 0.1%

Shares of Public Service Enterprise Group stock opened at $81.55 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $76.05 and a 1 year high of $91.25. The firm has a market cap of $40.64 billion, a price-to-earnings ratio of 18.04, a PEG ratio of 3.07 and a beta of 0.51. The company has a 50-day moving average of $79.48 and a 200 day moving average of $80.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were paid a $0.67 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Insider Activity at Public Service Enterprise Group

In related news, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. This trade represents a 2.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the transaction, the chief executive officer owned 285,149 shares of the company’s stock, valued at $22,957,345.99. The trade was a 0.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,284 shares of company stock worth $746,145 in the last 90 days. 0.19% of the stock is currently owned by company insiders.

About Public Service Enterprise Group

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.