Public Service Enterprise Group Incorporated $PEG Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Reduces Stake

Key Points

• Virginia Retirement Systems cut its PSEG stake by 50.6% in the third quarter, selling 94,000 shares and retaining 91,700 shares valued at approximately $6.2 million. Institutional investors collectively own 73.34% of PEG.
• Analyst sentiment remains cautious: multiple brokerages lowered their price targets, and the stock carries a consensus “Hold” rating with an average target price of $80.
• PSEG reported quarterly EPS of $0.86, exceeding the $0.80 consensus estimate, but revenue fell 8.9% year over year to $2.55 billion. Shares opened at $74.30, within a 12-month range of $66.15 to $87.63.

VIRGINIA RETIREMENT SYSTEMS ET Al decreased its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 50.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,700 shares of the utilities provider's stock after selling 94,000 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Public Service Enterprise Group were worth $6,175,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Soltis Investment Advisors LLC purchased a new position in Public Service Enterprise Group in the 3rd quarter worth about $232,000. North Dakota State Investment Board boosted its holdings in shares of Public Service Enterprise Group by 3.0% during the 3rd quarter. North Dakota State Investment Board now owns 15,288 shares of the utilities provider's stock valued at $1,029,000 after acquiring an additional 439 shares during the last quarter. VestGen Advisors LLC grew its stake in shares of Public Service Enterprise Group by 12.6% in the third quarter. VestGen Advisors LLC now owns 5,918 shares of the utilities provider's stock worth $399,000 after acquiring an additional 661 shares during the period. William Mack & Associates Inc. bought a new stake in shares of Public Service Enterprise Group in the third quarter worth approximately $99,000. Finally, Great Lakes Retirement Inc. raised its holdings in shares of Public Service Enterprise Group by 4.3% during the third quarter. Great Lakes Retirement Inc. now owns 29,769 shares of the utilities provider's stock valued at $2,005,000 after purchasing an additional 1,230 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph LaRossa sold 2,083 shares of the business's stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the completion of the sale, the chief executive officer owned 279,490 shares of the company's stock, valued at approximately $18,859,985.20. The trade was a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 completion of the sale, the senior vice president owned 20,970 shares of the company's stock, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.19% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PEG. Royal Bank Of Canada dropped their target price on shares of Public Service Enterprise Group from $81.00 to $76.00 in a report on Monday, October 26th. Jefferies Financial Group dropped their price target on Public Service Enterprise Group from $73.00 to $69.00 and set a "hold" rating on the stock in a research note on Friday, October 9th. Weiss Ratings lowered Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Barclays reduced their price objective on Public Service Enterprise Group from $83.00 to $76.00 and set an "equal weight" rating for the company in a research report on Monday, October 12th. Finally, Citigroup lowered their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, August 5th. Eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $80.00.

Public Service Enterprise Group Stock Up 0.0%

Shares of PEG stock opened at $74.30 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12 month low of $66.15 and a 12 month high of $87.63. The stock has a market cap of $37.03 billion, a P/E ratio of 18.48, a P/E/G ratio of 2.54 and a beta of 0.48. The company has a 50 day simple moving average of $71.20 and a two-hundred day simple moving average of $78.04.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company's revenue for the quarter was down 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts expect that Public Service Enterprise Group Incorporated will post 4.38 earnings per share for the current year.

Public Service Enterprise Group Profile

Public Service Enterprise Group Incorporated NYSE: PEG, commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG's principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.

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