Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $91.25 Average Price Target from Analysts

Public Service Enterprise Group Incorporated (NYSE:PEG) has earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $91.25.

Several equities research analysts recently commented on PEG shares. Wells Fargo & Company cut their price target on Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Jefferies Financial Group dropped their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective for the company. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

Insider Activity

In other news, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the transaction, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 7,201 shares of company stock valued at $576,984 over the last three months. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth approximately $552,280,000. Bank of America Corp DE grew its holdings in shares of Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after buying an additional 3,469,886 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after purchasing an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Public Service Enterprise Group by 174.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after acquiring an additional 1,788,449 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Public Service Enterprise Group by 40.0% during the fourth quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock worth $217,483,000 after purchasing an additional 774,256 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 0.9%

PEG stock opened at $76.82 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group has a 12-month low of $76.05 and a 12-month high of $91.25. The stock has a market cap of $38.28 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.89 and a beta of 0.51. The business’s 50-day moving average is $79.73 and its 200 day moving average is $80.82.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts anticipate that Public Service Enterprise Group will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group’s payout ratio is 59.29%.

About Public Service Enterprise Group

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.