Public Service Enterprise Group Incorporated $PEG Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its stake in Public Service Enterprise Group Incorporated (NYSE:PEG) by 32.4% in the third quarter, HoldingsChannel.com reports. The firm owned 57,049 shares of the utilities provider’s stock after acquiring an additional 13,946 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Public Service Enterprise Group were worth $4,761,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PEG. Capital Investment Advisors LLC increased its holdings in Public Service Enterprise Group by 15.4% in the third quarter. Capital Investment Advisors LLC now owns 6,100 shares of the utilities provider’s stock valued at $509,000 after buying an additional 814 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $38,000. Benjamin Edwards Inc. increased its stake in Public Service Enterprise Group by 1,316.2% in the 3rd quarter. Benjamin Edwards Inc. now owns 45,757 shares of the utilities provider’s stock valued at $3,819,000 after purchasing an additional 42,526 shares in the last quarter. HB Wealth Management LLC increased its stake in Public Service Enterprise Group by 13.9% in the 3rd quarter. HB Wealth Management LLC now owns 19,623 shares of the utilities provider’s stock valued at $1,638,000 after purchasing an additional 2,401 shares in the last quarter. Finally, Childress Capital Advisors LLC acquired a new position in Public Service Enterprise Group during the third quarter worth $246,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction 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 sale, the senior vice president owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have weighed in on PEG. Wells Fargo & Company initiated coverage on Public Service Enterprise Group in a report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 target price on the stock. TD Cowen raised their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Morgan Stanley cut their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. Finally, Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.35.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $78.67 on Friday. The firm has a market cap of $39.27 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60. 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 company’s 50-day moving average is $80.87 and its two-hundred day moving average is $82.55. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 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 the consensus estimate 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 previous 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. Research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were issued a $0.63 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.2%. Public Service Enterprise Group’s payout ratio is 60.58%.

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.