Public Service Enterprise Group Incorporated $PEG Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Decreases Stake

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 50.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,700 shares of the utilities provider’s stock after selling 94,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Public Service Enterprise Group were worth $6,175,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Public Service Enterprise Group during the second quarter valued at about $4,366,570,000. State Street Corp grew its position in shares of Public Service Enterprise Group by 1.4% during the second quarter. State Street Corp now owns 29,481,434 shares of the utilities provider’s stock worth $2,392,713,000 after purchasing an additional 399,191 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth about $1,207,400,000. Legal & General Group Plc bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $554,994,000. Finally, Amundi raised its stake in Public Service Enterprise Group by 71.6% during the 2nd quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock valued at $321,580,000 after purchasing an additional 1,653,832 shares during the period. Institutional investors own 73.34% of the company’s stock.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph LaRossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total value of $140,560.84. Following the completion of the transaction, the chief executive officer owned 279,490 shares in the company, valued at approximately $18,859,985.20. This trade represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Bank of America lowered their price target on Public Service Enterprise Group from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $99.00 to $104.00 in a research report on Thursday, July 9th. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Finally, Jefferies Financial Group cut their target price on shares of Public Service Enterprise Group from $73.00 to $69.00 and set a “hold” rating for the company in a research note on Friday, October 9th. Eight equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.00.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $74.30 on Monday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group Incorporated has a 1-year low of $66.15 and a 1-year high of $87.63. The business has a 50 day simple moving average of $71.20 and a two-hundred day simple moving average of $78.04. The stock has a market capitalization of $37.03 billion, a PE ratio of 18.48, a P/E/G ratio of 2.54 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company earned $0.77 EPS. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts predict that Public Service Enterprise Group Incorporated will post 4.38 EPS for the current fiscal year.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.