State of New Jersey Common Pension Fund D Has $13.28 Million Position in Public Service Enterprise Group Incorporated $PEG

Key Points

• The State of New Jersey Common Pension Fund D sold 13,354 shares of Public Service Enterprise Group, reducing its stake by 7.6%, leaving it with 161,335 shares valued at approximately $13.28 million.
• Analysts have mixed ratings on Public Service Enterprise Group, with one sell rating, five hold ratings, and six buy ratings, while the average target price for the stock is around $90.95.
• The company recently reported an earnings per share (EPS) of $0.77 for the latest quarter, surpassing expectations and reflecting a 15.8% increase in revenue year-over-year.

State of New Jersey Common Pension Fund D cut its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 7.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 161,335 shares of the utilities provider's stock after selling 13,354 shares during the period. State of New Jersey Common Pension Fund D's holdings in Public Service Enterprise Group were worth $13,278,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Transce3nd LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $25,000. REAP Financial Group LLC grew its stake in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider's stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Headlands Technologies LLC acquired a new position in Public Service Enterprise Group in the first quarter worth about $32,000. Finally, Optiver Holding B.V. acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $50,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $1.9330 during trading on Thursday, hitting $83.2270. The company had a trading volume of 2,445,950 shares, compared to its average volume of 2,863,519. The company has a market cap of $41.54 billion, a P/E ratio of 21.02, a PEG ratio of 2.94 and a beta of 0.45. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $95.22. The business's 50-day moving average is $84.50 and its 200 day moving average is $82.32. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. Public Service Enterprise Group's dividend payout ratio is currently 63.64%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were 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 of the company's stock, valued at $18,147,423.36. The trade was a 0.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Barclays decreased their target price on 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. Wall Street Zen downgraded Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 20th. UBS Group lifted their target price on 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. Finally, Morgan Stanley decreased their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.95.

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.