Public Service Enterprise Group (NYSE:PEG) Now Covered by HSBC

HSBC initiated coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a report issued on Thursday, Briefing.com reports. The brokerage set a “hold” rating and a $72.50 price target on the utilities provider’s stock. HSBC’s price objective would indicate a potential upside of 2.09% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 26th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Truist Financial dropped their price objective on shares of Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Hold” and an average target price of $86.07.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $71.02 on Thursday. Public Service Enterprise Group has a 1 year low of $66.15 and a 1 year high of $87.63. The stock has a market capitalization of $35.40 billion, a P/E ratio of 17.67, a P/E/G ratio of 2.66 and a beta of 0.50. The company’s 50-day moving average is $71.54 and its 200 day moving average is $76.65. 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 (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate 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 net margin of 16.04% and a return on equity of 12.42%. Public Service Enterprise Group’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts expect that Public Service Enterprise Group will post 4.38 earnings per share for the current year.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the sale, the chief executive officer directly owned 279,490 shares in the company, valued at approximately $18,859,985.20. This trade represents a 0.74% decrease in their position. The sale 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 T. Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value 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 $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 12,166 shares of company stock worth $896,328. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Large investors have recently added to or reduced their stakes in the stock. Sage Private Wealth Group LLC bought a new stake in shares of Public Service Enterprise Group in the third quarter worth $268,000. PFS Partners LLC lifted its position in Public Service Enterprise Group by 27.6% during the third quarter. PFS Partners LLC now owns 961 shares of the utilities provider’s stock valued at $65,000 after purchasing an additional 208 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Public Service Enterprise Group by 13.2% during the third quarter. Nisa Investment Advisors LLC now owns 58,309 shares of the utilities provider’s stock valued at $3,927,000 after purchasing an additional 6,819 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Public Service Enterprise Group by 314.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 504,441 shares of the utilities provider’s stock worth $33,969,000 after buying an additional 382,822 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Public Service Enterprise Group by 1.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,797 shares of the utilities provider’s stock worth $5,104,000 after buying an additional 1,399 shares during the period. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.