VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 185,700 Public Service Enterprise Group Incorporated $PEG

Key Points

• Virginia Retirement Systems acquired 185,700 shares of Public Service Enterprise Group, valued at approximately $15.1 million. Institutional investors collectively own 73.34% of PEG.
• PEG’s latest quarterly results exceeded expectations, with earnings of $0.86 per share versus the $0.80 consensus estimate, although revenue fell 8.9% year over year to $2.55 billion.
• The company declared a quarterly dividend of $0.67 per share, representing an annualized payout of $2.68 and a 3.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $89.43.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 185,700 shares of the utilities provider's stock, valued at approximately $15,071,000.

Other institutional investors also recently modified their holdings of the company. Empowered Funds LLC grew its position in shares of Public Service Enterprise Group by 10.3% in the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider's stock valued at $831,000 after buying an additional 940 shares during the last quarter. Woodline Partners LP raised its position in shares of Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider's stock worth $3,464,000 after acquiring an additional 12,172 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider's stock worth $405,000 after acquiring an additional 1,040 shares during the last quarter. Jump Financial LLC lifted its stake in shares of Public Service Enterprise Group by 70.4% in the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider's stock worth $1,070,000 after acquiring an additional 5,250 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 3.0% in the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider's stock worth $4,785,000 after acquiring an additional 1,649 shares during the period. Institutional investors own 73.34% of the company's stock.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares of the company's stock, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 15,201 shares of company stock valued at $1,172,339. 0.19% of the stock is owned by company insiders.

Public Service Enterprise Group Trading Down 0.2%

PEG opened at $73.57 on Tuesday. Public Service Enterprise Group Incorporated has a 1-year low of $72.53 and a 1-year high of $87.63. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The company has a market cap of $36.67 billion, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 2.78 and a beta of 0.50. The company has a fifty day moving average price of $77.04 and a two-hundred day moving average price of $79.62.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS 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 paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group's dividend payout ratio is 66.67%.

Analysts Set New Price Targets

Several brokerages recently commented on PEG. Jefferies Financial Group reduced their target price on 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. Wells Fargo & Company lowered their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating for the company in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an "overweight" rating for the company in a research report on Friday, August 21st. One 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 company's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Hold" and an average target price of $89.43.

Public Service Enterprise Group Company 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.

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