Public Service Enterprise Group (NYSE:PEG) Hits New 52-Week Low – Here’s What Happened

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) hit a new 52-week low during trading on Monday . The company traded as low as $76.00 and last traded at $76.9070, with a volume of 119238 shares trading hands. The stock had previously closed at $76.68.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Truist Financial raised their price objective on shares of Public Service Enterprise Group from $88.00 to $90.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, April 13th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wells Fargo & Company dropped their price target on shares of Public Service Enterprise Group from $97.00 to $91.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Jefferies Financial Group cut their price target 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and an average price target of $91.25.

Public Service Enterprise Group Stock Down 0.0%

The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock’s 50-day simple moving average is $79.73 and its 200-day simple moving average is $80.84. The firm has a market capitalization of $38.19 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.89 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the firm earned $1.43 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, research analysts predict that Public Service Enterprise Group Incorporated 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 Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 285,149 shares of the company’s stock, valued at approximately $22,957,345.99. This 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 have sold 7,201 shares of company stock worth $576,984 over the last quarter. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Community Financial Services Group LLC purchased a new stake in Public Service Enterprise Group during the second quarter worth about $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group in the second quarter valued at about $25,000. Quest 10 Wealth Builders Inc. grew its position in shares of Public Service Enterprise Group by 250.5% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 248 shares during the period. Elevation Wealth Partners LLC grew its position in shares of Public Service Enterprise Group by 240.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 243 shares during the period. Finally, Bayban purchased a new stake in shares of Public Service Enterprise Group during the 4th quarter worth approximately $33,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.