Public Employees Retirement System of Ohio Sells 7,805 Shares of Public Service Enterprise Group Incorporated $PEG

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in Public Service Enterprise Group by 4.5%, selling 7,805 shares and maintaining a total of 166,647 shares worth approximately $14 million.
• Several hedge funds have recently adjusted their positions in PEG, with notable increases from Siemens Fonds Invest and Wealth Enhancement Advisory Services during the fourth quarter.
• Public Service Enterprise Group declared a quarterly dividend of $0.63 per share, representing a 3.1% dividend yield for investors of record on September 9th.

Public Employees Retirement System of Ohio reduced its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 4.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 166,647 shares of the utilities provider's stock after selling 7,805 shares during the period. Public Employees Retirement System of Ohio's holdings in Public Service Enterprise Group were worth $14,028,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PEG. Two Sigma Advisers LP bought a new stake in Public Service Enterprise Group in the fourth quarter worth $600,000. Siemens Fonds Invest GmbH lifted its stake in Public Service Enterprise Group by 15.2% in the fourth quarter. Siemens Fonds Invest GmbH now owns 6,211 shares of the utilities provider's stock worth $525,000 after purchasing an additional 820 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Public Service Enterprise Group by 10.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 86,525 shares of the utilities provider's stock worth $7,310,000 after purchasing an additional 8,022 shares during the last quarter. 111 Capital bought a new stake in Public Service Enterprise Group in the fourth quarter worth $349,000. Finally, Versant Capital Management Inc lifted its stake in Public Service Enterprise Group by 197.4% in the first quarter. Versant Capital Management Inc now owns 913 shares of the utilities provider's stock worth $75,000 after purchasing an additional 606 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PEG. Barclays lowered their price target on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Thursday. UBS Group upped their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $91.85.

Public Service Enterprise Group Price Performance

PEG stock opened at $82.30 on Friday. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The company has a market cap of $41.07 billion, a P/E ratio of 20.78, a PEG ratio of 2.81 and a beta of 0.50. The firm has a 50-day moving average of $84.30 and a 200 day moving average of $82.18. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

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

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group's payout ratio is currently 63.64%.

Insider Buying and Selling at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares in the company, valued at $18,147,423.36. The trade was a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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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