Public Service Enterprise Group Incorporated $PEG Stock Holdings Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 13.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 314,668 shares of the utilities provider’s stock after buying an additional 36,100 shares during the period. New York State Common Retirement Fund’s holdings in Public Service Enterprise Group were worth $26,262,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Public Service Enterprise Group by 1.9% in the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock worth $5,468,421,000 after acquiring an additional 1,199,371 shares in the last quarter. State Street Corp grew its stake in shares of Public Service Enterprise Group by 0.8% in the 2nd quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock worth $2,300,701,000 after purchasing an additional 206,843 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC lifted its stake in Public Service Enterprise Group by 0.9% during the second quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after purchasing an additional 110,087 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Public Service Enterprise Group by 9.8% during the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after purchasing an additional 715,051 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 0.4%

NYSE:PEG opened at $82.35 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group Incorporated has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The stock’s 50-day moving average is $80.15 and its two-hundred day moving average is $82.27. The stock has a market cap of $41.11 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.66 and a beta of 0.60.

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 analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $3.23 billion during 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 firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities research analysts forecast 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 announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a dividend of $0.63 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on PEG shares. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $85.00 target price (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. Barclays reduced their target price on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating for the company in a report on Thursday, January 22nd. Evercore ISI initiated coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. Finally, Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.96.

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.