Louisiana State Employees Retirement System Invests $2.06 Million in Public Service Enterprise Group Incorporated $PEG

Louisiana State Employees Retirement System bought a new stake in Public Service Enterprise Group Incorporated (NYSE:PEG) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 25,400 shares of the utilities provider’s stock, valued at approximately $2,056,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC raised its stake in Public Service Enterprise Group by 0.4% during the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock worth $2,734,000 after buying an additional 122 shares during the period. Strategic Investment Advisors MI grew its stake in Public Service Enterprise Group by 0.8% in the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after acquiring an additional 127 shares during the period. Simplicity Wealth LLC increased its holdings in shares of Public Service Enterprise Group by 3.3% during the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 129 shares in the last quarter. Key Financial Inc increased its holdings in shares of Public Service Enterprise Group by 2.6% during the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 133 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its position in shares of Public Service Enterprise Group by 4.3% during the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 134 shares during the period. 73.34% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $77.01, for a total value of $160,411.83. Following the completion of the transaction, the chief executive officer owned 287,232 shares in the company, valued at $22,119,736.32. This represents a 0.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This represents a 2.98% decrease in their ownership of the stock. 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. Insiders have sold 7,201 shares of company stock worth $578,442 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Public Service Enterprise Group Trading Down 1.4%

Shares of PEG stock opened at $81.25 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The company has a market capitalization of $40.49 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 3.10 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The company has a 50-day simple moving average of $79.36 and a two-hundred day simple moving average of $80.87.

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

Public Service Enterprise Group Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on PEG. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a research note on Thursday, March 5th. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, BMO Capital Markets boosted their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Company 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.