California State Teachers Retirement System Has $89.50 Million Stock Position in Public Service Enterprise Group Incorporated $PEG

California State Teachers Retirement System grew its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 91.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,102,743 shares of the utilities provider's stock after purchasing an additional 526,659 shares during the quarter. California State Teachers Retirement System owned about 0.22% of Public Service Enterprise Group worth $89,498,622 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PEG. Kintra Wealth LLC boosted its stake in Public Service Enterprise Group by 67.2% during the 2nd quarter. Kintra Wealth LLC now owns 9,648 shares of the utilities provider's stock valued at $733,000 after purchasing an additional 3,877 shares during the last quarter. HB Wealth Management LLC boosted its position in Public Service Enterprise Group by 18.4% during the second quarter. HB Wealth Management LLC now owns 23,903 shares of the utilities provider's stock worth $1,940,000 after purchasing an additional 3,722 shares in the last quarter. Saudi Central Bank grew its stake in shares of Public Service Enterprise Group by 89.5% in the 2nd quarter. Saudi Central Bank now owns 34,912 shares of the utilities provider's stock valued at $2,833,000 after buying an additional 16,488 shares during the period. Compass Financial Management LLC purchased a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at about $83,000. Finally, AlphaGrep UK Ltd acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $279,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on PEG. Weiss Ratings cut Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 target price for the company. Truist Financial reduced their target price on Public Service Enterprise Group from $90.00 to $84.00 and set a "hold" rating on the stock in a research report on Thursday, August 13th. Jefferies Financial Group reduced their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Finally, Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $89.43.

Public Service Enterprise Group Stock Down 0.3%

PEG traded down $0.19 during trading on Tuesday, hitting $70.73. 1,406,408 shares of the company's stock were exchanged, compared to its average volume of 2,892,982. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a fifty-two week low of $70.14 and a fifty-two week high of $87.63. The stock has a market cap of $35.26 billion, a P/E ratio of 17.62, a PEG ratio of 2.73 and a beta of 0.50. The business's 50 day moving average is $76.18 and its two-hundred day moving average is $79.16.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business's revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group's dividend payout ratio is currently 66.67%.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard Thigpen sold 8,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares of the company's stock, valued at $1,563,523.20. This represents a 27.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Kim 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 value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 15,201 shares of company stock worth $1,172,339. Corporate insiders own 0.19% of the company's stock.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated NYSE: PEG is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.

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