State Board of Administration of Florida Retirement System Sells 10,467 Shares of Public Service Enterprise Group Incorporated $PEG

The State Board of Administration of Florida Retirement System reduced its stake in Public Service Enterprise Group by 2% in Q2, selling 10,467 shares. The board now holds 511,400 shares valued at $43,050,000. Other investors have also adjusted their positions in PEG. Analysts have given the stock a consensus rating of 'Moderate Buy' with a price target of $91.19.

State Board of Administration of Florida Retirement System trimmed its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 511,400 shares of the utilities provider's stock after selling 10,467 shares during the period. State Board of Administration of Florida Retirement System owned about 0.10% of Public Service Enterprise Group worth $43,050,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PEG. LPL Financial LLC increased its stake in shares of Public Service Enterprise Group by 10.9% in the first quarter. LPL Financial LLC now owns 733,229 shares of the utilities provider's stock valued at $60,345,000 after buying an additional 72,117 shares during the period. Mackenzie Financial Corp boosted its holdings in Public Service Enterprise Group by 6.3% in the first quarter. Mackenzie Financial Corp now owns 65,593 shares of the utilities provider's stock valued at $5,398,000 after acquiring an additional 3,902 shares during the last quarter. Arkadios Wealth Advisors increased its position in Public Service Enterprise Group by 303.5% during the 1st quarter. Arkadios Wealth Advisors now owns 22,530 shares of the utilities provider's stock valued at $1,854,000 after purchasing an additional 16,946 shares during the period. NorthRock Partners LLC raised its holdings in Public Service Enterprise Group by 6.1% during the 1st quarter. NorthRock Partners LLC now owns 2,848 shares of the utilities provider's stock worth $234,000 after purchasing an additional 165 shares during the last quarter. Finally, Shufro Rose & Co. LLC lifted its position in shares of Public Service Enterprise Group by 19.4% in the 1st quarter. Shufro Rose & Co. LLC now owns 6,188 shares of the utilities provider's stock worth $509,000 after purchasing an additional 1,004 shares during the period. 73.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PEG shares. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a "buy" rating and a $98.00 price objective for the company. Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a report on Tuesday, October 28th. They set an "equal weight" rating and a $88.00 price target for the company. Evercore ISI began coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an "in-line" rating and a $83.00 price objective for the company. Morgan Stanley cut their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Finally, TD Cowen lifted their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, November 5th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.19.

Read Our Latest Analysis on PEG

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the business's stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.19% of the company's stock.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.52 on Friday. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $94.99. The company has a market cap of $41.69 billion, a PE ratio of 21.09, a P/E/G ratio of 2.46 and a beta of 0.55. The stock has a 50-day moving average of $82.33 and a 200-day moving average of $82.59. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted 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 return on equity of 12.08% and a net margin of 17.78%.The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the business earned $0.90 EPS. The firm's revenue for the quarter was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities research analysts predict that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be given a $0.63 dividend. The ex-dividend date of this dividend is Wednesday, December 10th. This represents a $2.52 annualized dividend and a yield of 3.0%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 60.58%.

Public Service Enterprise Group Company Profile

(Free Report)

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.

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