California Public Employees Retirement System Has $136.64 Million Stake in Public Service Enterprise Group Incorporated $PEG

California Public Employees Retirement System lowered its position in Public Service Enterprise Group Incorporated (NYSE:PEG) by 17.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,637,245 shares of the utilities provider’s stock after selling 334,371 shares during the period. California Public Employees Retirement System owned 0.33% of Public Service Enterprise Group worth $136,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Twin Peaks Wealth Advisors LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC bought a new position in Public Service Enterprise Group in the 2nd quarter valued at $25,000. Cedar Mountain Advisors LLC acquired a new position in Public Service Enterprise Group in the third quarter worth $27,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $38,000. Finally, CGC Financial Services LLC grew its holdings in shares of Public Service Enterprise Group by 98.5% during the third quarter. CGC Financial Services LLC now owns 520 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 258 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.6%

Shares of PEG opened at $83.75 on Monday. The stock’s fifty day simple moving average is $82.08 and its 200-day simple moving average is $81.78. The firm has a market capitalization of $41.77 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.72 and a beta of 0.60. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $91.25. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same period last year, the company earned $0.84 earnings per share. The company’s revenue was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.2%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is presently 63.51%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the transaction, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total transaction of $174,263.78. Following the completion of the transaction, the chief executive officer directly owned 292,889 shares in the company, valued at approximately $24,503,093.74. The trade was a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a report on Thursday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $92.88.

Public Service Enterprise Group 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.