Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $93.1923.

A number of research firms have commented on PEG. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company upped their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Scotiabank restated a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president owned 28,481 shares in the company, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the transaction, the chief executive officer directly owned 289,315 shares in the company, valued at $23,495,271.15. This represents a 0.71% decrease in their position. 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. In the last ninety days, insiders have sold 10,949 shares of company stock valued at $902,747. Insiders own 0.19% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB grew its position in Public Service Enterprise Group by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider’s stock worth $182,759,000 after purchasing an additional 504,632 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Public Service Enterprise Group by 4.6% during the third quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock valued at $74,609,000 after buying an additional 38,949 shares during the last quarter. Greenland Capital Management LP boosted its position in shares of Public Service Enterprise Group by 238.9% during the third quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider’s stock worth $5,820,000 after buying an additional 49,157 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Public Service Enterprise Group by 38.7% during the third quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider’s stock worth $75,572,000 after buying an additional 252,718 shares during the period. Finally, New York State Common Retirement Fund grew its holdings in Public Service Enterprise Group by 13.0% in the 3rd quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider’s stock worth $26,262,000 after buying an additional 36,100 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $79.61 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. Public Service Enterprise Group has a 1 year low of $76.05 and a 1 year high of $91.25. The firm’s 50-day simple moving average is $80.51 and its 200-day simple moving average is $81.22. The firm has a market cap of $39.67 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.95 and a beta of 0.53.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. 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.