Ralph Larossa Sells 2,083 Shares of Public Service Enterprise Group (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.24, for a total transaction of $169,222.92. Following the completion of the transaction, the chief executive officer directly owned 291,398 shares of the company’s stock, valued at approximately $23,673,173.52. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Stock Down 0.0%

PEG opened at $81.79 on Friday. The firm has a market capitalization of $40.79 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 2.66 and a beta of 0.58. Public Service Enterprise Group Incorporated has a one year low of $74.67 and a one year high of $91.25. The company has a fifty day moving average price of $82.93 and a 200-day moving average price of $81.77. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.80 and a quick ratio of 0.60.

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

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, March 10th. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s payout ratio is 63.51%.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of large investors have recently modified their holdings of PEG. Norges Bank purchased a new stake in Public Service Enterprise Group in the fourth quarter worth approximately $552,280,000. Bank of America Corp DE raised its stake 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 acquiring an additional 3,469,886 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after acquiring an additional 2,189,951 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Public Service Enterprise Group by 174.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after acquiring an additional 1,788,449 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Public Service Enterprise Group by 27.8% in the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after purchasing an additional 1,408,707 shares in the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PEG shares. Wells Fargo & Company upped their price objective on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. JPMorgan Chase & Co. increased their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Finally, LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $87.50 to $84.50 in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $92.88.

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.