California Public Employees Retirement System Has $165.97 Million Stock Holdings in Public Service Enterprise Group Incorporated $PEG

California Public Employees Retirement System lowered its position in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,971,616 shares of the utilities provider’s stock after selling 349,068 shares during the quarter. California Public Employees Retirement System owned approximately 0.40% of Public Service Enterprise Group worth $165,971,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Public Service Enterprise Group by 22.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after acquiring an additional 13,540 shares during the period. Norges Bank acquired a new stake in Public Service Enterprise Group in the second quarter worth about $564,238,000. Janney Montgomery Scott LLC raised its holdings in Public Service Enterprise Group by 2.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after purchasing an additional 1,652 shares during the last quarter. Magellan Asset Management Ltd raised its holdings in Public Service Enterprise Group by 9.8% during the 2nd quarter. Magellan Asset Management Ltd now owns 354,187 shares of the utilities provider’s stock worth $29,815,000 after purchasing an additional 31,486 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in Public Service Enterprise Group by 69.6% during the 1st quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock valued at $1,918,000 after purchasing an additional 9,563 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Down 1.4%

Shares of NYSE PEG opened at $79.63 on Monday. Public Service Enterprise Group Incorporated has a 52-week low of $74.67 and a 52-week high of $91.62. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The stock has a market cap of $39.75 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.43 and a beta of 0.59. The firm has a 50 day moving average price of $82.21 and a 200 day moving average price of $82.72.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the firm posted $0.90 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is presently 60.58%.

Insider Activity

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

PEG has been the subject of several analyst reports. Barclays lifted their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. BMO Capital Markets lowered their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. TD Cowen upped their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Finally, Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.19.

About Public Service Enterprise Group

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.