New York State Teachers Retirement System Purchases 48,004 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• New York State Teachers Retirement System increased its stake in Public Service Enterprise Group by 12.2% in the first quarter, buying 48,004 additional shares and bringing its total holding to 442,520 shares worth about $35.8 million.
• PEG reported strong quarterly results, with EPS of $1.55 beating estimates of $1.44 and revenue of $3.85 billion topping expectations; the company also raised FY2026 guidance to 4.280–4.400 EPS.
• The stock yields about 3.3% after its latest $0.67 quarterly dividend, while analysts currently rate PEG a Moderate Buy with a consensus target price of $92.32.

New York State Teachers Retirement System raised its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 12.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 442,520 shares of the utilities provider's stock after purchasing an additional 48,004 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of Public Service Enterprise Group worth $35,822,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. JPL Wealth Management LLC increased its position in shares of 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 valued at $2,734,000 after purchasing an additional 122 shares during the last quarter. Strategic Investment Advisors MI lifted its position in Public Service Enterprise Group by 0.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider's stock worth $1,331,000 after buying an additional 127 shares during the last quarter. Simplicity Wealth LLC lifted its position in Public Service Enterprise Group by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider's stock worth $320,000 after buying an additional 129 shares during the last quarter. Key Financial Inc boosted its stake in Public Service Enterprise Group by 2.6% in the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider's stock worth $419,000 after buying an additional 133 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its stake in Public Service Enterprise Group by 4.3% in the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider's stock worth $272,000 after buying an additional 134 shares in the last quarter. Institutional investors own 73.34% of the company's stock.

Public Service Enterprise Group Trading Down 0.1%

Shares of PEG stock opened at $81.55 on Friday. The business has a 50-day moving average of $79.48 and a 200 day moving average of $80.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group Incorporated has a 1-year low of $76.05 and a 1-year high of $91.25. The stock has a market capitalization of $40.64 billion, a PE ratio of 18.04, a P/E/G ratio of 3.07 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period in the previous year, the firm earned $1.43 EPS. The business's quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were issued a $0.67 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Public Service Enterprise Group's dividend payout ratio (DPR) is currently 59.29%.

Analyst Upgrades and Downgrades

Several research firms have commented on PEG. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a report on Thursday. They set a "sector perform" rating and a $81.00 target price on the stock. BMO Capital Markets lifted 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. Finally, Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.32.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares of the company's stock, valued at $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the sale, the chief executive officer directly owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding PEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.