Illinois Municipal Retirement Fund Sells 34,120 Shares of Public Service Enterprise Group Incorporated $PEG

Illinois Municipal Retirement Fund cut its stake in shares of Public Service Enterprise Group Incorporated (NYSE:PEG) by 23.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 111,783 shares of the utilities provider’s stock after selling 34,120 shares during the period. Illinois Municipal Retirement Fund’s holdings in Public Service Enterprise Group were worth $9,410,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in PEG. ProShare Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 13.1% in the 2nd quarter. ProShare Advisors LLC now owns 88,658 shares of the utilities provider’s stock valued at $7,463,000 after buying an additional 10,246 shares during the last quarter. Profund Advisors LLC raised its position in Public Service Enterprise Group by 30.3% during the second quarter. Profund Advisors LLC now owns 25,754 shares of the utilities provider’s stock worth $2,168,000 after acquiring an additional 5,986 shares in the last quarter. Midwest Trust Co acquired a new stake in Public Service Enterprise Group in the second quarter valued at $352,000. CSM Advisors LLC increased its stake in shares of Public Service Enterprise Group by 1.6% during the 2nd quarter. CSM Advisors LLC now owns 88,609 shares of the utilities provider’s stock worth $7,459,000 after purchasing an additional 1,410 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Public Service Enterprise Group by 2,187.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,375 shares of the utilities provider’s stock valued at $9,628,000 after purchasing an additional 109,375 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.19 on Tuesday. The stock has a 50 day simple moving average of $82.04 and a 200 day simple moving average of $82.35. The stock has a market cap of $41.52 billion, a P/E ratio of 21.01, a PEG ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group Incorporated has a 1-year low of $74.67 and a 1-year high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating 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 firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the firm posted $0.90 EPS. The company’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. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. TD Cowen boosted their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. UBS Group lifted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Barclays raised their price target on Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $91.19.

Public Service Enterprise Group Company Profile

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.