California Public Employees Retirement System Sells 349,068 Shares of Public Service Enterprise Group Incorporated $PEG

California Public Employees Retirement System reduced its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,971,616 shares of the utilities provider’s stock after selling 349,068 shares during the quarter. California Public Employees Retirement System’s holdings in Public Service Enterprise Group were worth $165,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $27,000. GoalVest Advisory LLC grew its holdings in shares of Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after buying an additional 225 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at approximately $32,000. Finally, Wealth Preservation Advisors LLC acquired a new stake in Public Service Enterprise Group in the 1st quarter valued at approximately $33,000. 73.34% of the stock is owned by institutional investors and hedge funds.

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 transaction of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on PEG shares. Barclays upped their price target 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. TD Cowen boosted their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. BMO Capital Markets reduced their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target on the stock. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Trading Down 1.4%

NYSE PEG opened at $79.63 on Monday. Public Service Enterprise Group Incorporated has a 12 month low of $74.67 and a 12 month high of $91.62. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The stock has a 50 day moving average of $82.21 and a 200-day moving average of $82.72. The company has a market cap of $39.75 billion, a PE ratio of 19.14, a PEG ratio of 2.43 and a beta of 0.59.

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, topping the consensus estimate of $1.02 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.2%. The ex-dividend date is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

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.