Public Service Enterprise Group Incorporated $PEG Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its holdings in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 15,435.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 89,498,622 shares of the utilities provider’s stock after purchasing an additional 88,922,538 shares during the quarter. California State Teachers Retirement System owned 0.18% of Public Service Enterprise Group worth $7,263,708,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Community Financial Services Group LLC purchased a new position in Public Service Enterprise Group during the second quarter worth about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group during the second quarter worth $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Public Service Enterprise Group during the 2nd quarter worth about $26,000. Elevation Wealth Partners LLC grew its holdings in shares of Public Service Enterprise Group by 240.6% in the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 243 shares in the last quarter. Finally, Aberdeen Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at $32,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Jefferies Financial Group reduced their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. 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 note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Hold” and an average target price of $89.43.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph LaRossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 15,201 shares of company stock worth $1,172,339. 0.19% of the stock is currently owned by insiders.

Public Service Enterprise Group Stock Up 0.8%

Shares of NYSE:PEG opened at $74.32 on Wednesday. The stock has a market cap of $37.04 billion, a P/E ratio of 18.49, a P/E/G ratio of 2.78 and a beta of 0.50. The firm has a fifty day moving average price of $76.90 and a 200 day moving average price of $79.55. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group Incorporated has a 1-year low of $72.53 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business posted $0.77 earnings per share. Public Service Enterprise Group’s quarterly revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given 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 (DPR) is presently 66.67%.

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.