376,400 Shares in Public Service Enterprise Group Incorporated $PEG Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al has acquired 376,400 shares in Public Service Enterprise Group, valued at approximately $31.7 million, representing around 0.08% ownership of the company.
• Institutional investors collectively own 73.34% of Public Service Enterprise Group's stock, with Vanguard Group and Ameriprise Financial among those increasing their positions in recent months.
• Public Service Enterprise Group reported earnings of $0.77 per share for the last quarter, exceeding analyst expectations, and set a fiscal year 2025 EPS guidance of between 3.940 and 4.060.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 376,400 shares of the utilities provider's stock, valued at approximately $31,685,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.08% of Public Service Enterprise Group at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Public Service Enterprise Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider's stock worth $5,247,586,000 after buying an additional 2,986,646 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Public Service Enterprise Group by 2.3% during the first quarter. Ameriprise Financial Inc. now owns 7,294,016 shares of the utilities provider's stock worth $600,317,000 after buying an additional 162,261 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Public Service Enterprise Group by 20.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,803,810 shares of the utilities provider's stock worth $395,354,000 after acquiring an additional 806,782 shares during the last quarter. Raymond James Financial Inc. raised its position in Public Service Enterprise Group by 5.2% during the first quarter. Raymond James Financial Inc. now owns 4,683,338 shares of the utilities provider's stock worth $385,439,000 after acquiring an additional 230,636 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Public Service Enterprise Group by 1.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,061,714 shares of the utilities provider's stock worth $251,979,000 after acquiring an additional 31,631 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $84.77 on Monday. The firm has a 50 day simple moving average of $82.74 and a 200-day simple moving average of $82.23. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm has a market cap of $42.30 billion, a PE ratio of 21.41, a P/E/G ratio of 2.60 and a beta of 0.53. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company's revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEG. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. 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. TD Cowen began coverage on shares of Public Service Enterprise Group in a research report on Thursday. They set a "buy" rating and a $93.00 target price for the company. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Finally, UBS Group lifted their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of "Moderate Buy" and an average price target of $91.14.

Public Service Enterprise Group Company 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.

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