Public Service Enterprise Group (NYSE:PEG) Raised to Hold at Wall Street Zen

Public Service Enterprise Group (NYSE:PEG) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, September 18th. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price on the stock. Jefferies Financial Group lowered 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 report on Monday, July 20th. Truist Financial dropped their price target on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $89.23.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $66.99 on Friday. Public Service Enterprise Group has a 1-year low of $66.15 and a 1-year high of $87.63. The business has a 50-day moving average of $74.14 and a 200-day moving average of $78.17. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The company has a market capitalization of $33.39 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.52 and a beta of 0.50.

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

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph LaRossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Public Service Enterprise Group stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 12,166 shares of company stock valued at $923,469. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PEG. BlackRock Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $4,366,570,000. Bank of America Corp DE bought a new position in shares of Public Service Enterprise Group during the second quarter worth about $1,207,400,000. Norges Bank acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $552,280,000. Legal & General Group Plc acquired a new position in Public Service Enterprise Group in the second quarter worth about $554,994,000. Finally, Bank of New York Mellon Corp acquired a new position in Public Service Enterprise Group in the second quarter worth about $221,632,000. 73.34% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.