VIRGINIA RETIREMENT SYSTEMS ET Al Takes $15.07 Million Position in Public Service Enterprise Group Incorporated $PEG

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) in the 2nd quarter, HoldingsChannel reports. The fund bought 185,700 shares of the utilities provider’s stock, valued at approximately $15,071,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Westfuller Advisors LLC boosted its position in shares of Public Service Enterprise Group by 7.3% in the first quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock worth $153,000 after purchasing an additional 129 shares during the period. Key Financial Inc increased its stake in shares of Public Service Enterprise Group by 2.6% in the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 133 shares in the last quarter. Benjamin Edwards Inc. raised its position in shares of Public Service Enterprise Group by 4.3% during the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after purchasing an additional 134 shares during the period. CFS Investment Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 1.0% during the 4th quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock valued at $1,068,000 after purchasing an additional 138 shares during the period. Finally, Advisor OS LLC lifted its stake in shares of Public Service Enterprise Group by 5.3% during the 4th quarter. Advisor OS LLC now owns 2,949 shares of the utilities provider’s stock valued at $237,000 after buying an additional 149 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Jefferies Financial Group dropped their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a report on Monday, July 20th. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Truist Financial cut their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Citigroup cut their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company decreased their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.43.

Public Service Enterprise Group Stock Down 0.2%

NYSE PEG opened at $73.57 on Tuesday. 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 capitalization of $36.67 billion, a P/E ratio of 18.30, a P/E/G ratio of 2.78 and a beta of 0.50. Public Service Enterprise Group Incorporated has a one year low of $72.53 and a one year high of $87.63. The stock has a 50 day moving average price of $77.04 and a 200-day moving average price of $79.62.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results 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. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Public Service Enterprise Group’s revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be issued a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.6%. Public Service Enterprise Group’s payout ratio is 66.67%.

Insider Activity

In other news, COO Kim Hanemann sold 3,035 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph LaRossa sold 2,083 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 15,201 shares of company stock worth $1,172,339. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group 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.