Public Service Enterprise Group (NYSE:PEG) SVP Sells 4,700 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard Thigpen sold 4,700 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. The trade was a 14.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Public Service Enterprise Group Trading Down 0.1%

PEG traded down $0.10 during trading on Wednesday, hitting $83.86. The company’s stock had a trading volume of 3,386,788 shares, compared to its average volume of 2,554,495. The firm has a market capitalization of $41.82 billion, a P/E ratio of 20.73, a PEG ratio of 2.74 and a beta of 0.60. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The stock’s fifty day moving average price is $81.64 and its 200-day moving average price is $81.80. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. Public Service Enterprise Group’s revenue was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts anticipate that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a dividend of $0.67 per share. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.72%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Scotiabank reiterated a “sector perform” rating and set a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $85.00 target price (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. BMO Capital Markets cut their target price on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. Finally, Argus raised Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.12.

Hedge Funds Weigh In On Public Service Enterprise Group

Several large investors have recently modified their holdings of the business. HM Payson & Co. boosted its holdings in Public Service Enterprise Group by 3.3% in the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock worth $313,000 after buying an additional 120 shares during the period. Rossby Financial LCC boosted its holdings in shares of Public Service Enterprise Group by 5.5% in the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after acquiring an additional 121 shares during the period. Colonial Trust Co SC grew its position in shares of Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 121 shares in the last quarter. JPL Wealth Management LLC raised its stake in shares of Public Service Enterprise Group by 0.4% during the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after purchasing an additional 122 shares during the period. Finally, Transcend Capital Advisors LLC lifted its holdings in Public Service Enterprise Group by 2.6% during the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock worth $410,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.