Oregon Public Employees Retirement Fund Boosts Holdings in Public Service Enterprise Group Incorporated $PEG

Oregon Public Employees Retirement Fund lifted its holdings in Public Service Enterprise Group Incorporated (NYSE:PEG) by 32.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,049 shares of the utilities provider’s stock after purchasing an additional 13,946 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Public Service Enterprise Group were worth $4,761,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PEG. JARISLOWSKY FRASER Ltd lifted its position in shares of Public Service Enterprise Group by 107.1% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock worth $85,572,000 after buying an additional 530,248 shares during the last quarter. Railway Pension Investments Ltd raised its stake in Public Service Enterprise Group by 97.5% during the 3rd quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after acquiring an additional 937,100 shares in the last quarter. Voya Investment Management LLC boosted its stake in Public Service Enterprise Group by 18.2% in the third quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock valued at $137,155,000 after acquiring an additional 253,810 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings 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 worth $6,192,000 after purchasing an additional 13,540 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Public Service Enterprise Group during the second quarter worth about $564,238,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research note on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Finally, BTIG Research began coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price for the company. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.35.

Public Service Enterprise Group Stock Up 1.6%

Shares of Public Service Enterprise Group stock opened at $78.67 on Friday. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25. The company has a market cap of $39.27 billion, a P/E ratio of 18.91, a PEG ratio of 2.21 and a beta of 0.60. 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 firm has a fifty day moving average of $80.87 and a two-hundred day moving average of $82.55.

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

Public Service Enterprise Group Announces Dividend

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

Insider Activity

In other news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

About Public Service Enterprise Group

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.