Public Employees Retirement System of Ohio Invests $12.13 Million in Public Service Enterprise Group Incorporated $PEG

Public Employees Retirement System of Ohio bought a new stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 149,518 shares of the utilities provider’s stock, valued at approximately $12,135,000.

Other hedge funds also recently bought and sold shares of the company. Community Financial Services Group LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the second quarter valued at about $25,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Public Service Enterprise Group in the second quarter worth about $26,000. Elevation Wealth Partners LLC boosted its stake in shares of Public Service Enterprise Group by 240.6% in the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 243 shares during the period. Finally, Aberdeen Wealth Management LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth about $32,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.2%

Shares of NYSE PEG opened at $73.07 on Monday. Public Service Enterprise Group Incorporated has a fifty-two week low of $72.53 and a fifty-two week high of $87.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market cap of $36.42 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 2.76 and a beta of 0.51. The business’s 50 day moving average price is $78.06 and its 200-day moving average price is $80.11.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.Public Service Enterprise Group’s revenue was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

PEG has been the topic of several recent analyst reports. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Truist Financial decreased their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, August 21st. Finally, Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $89.43.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the transaction, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction dated 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 directly owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% 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. Over the last ninety days, insiders have sold 15,201 shares of company stock worth $1,172,339. Insiders own 0.19% of the company’s stock.

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.