Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $92.32 Average Price Target from Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEG) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $92.3214.

PEG has been the subject of a number of research analyst reports. Truist Financial dropped their price target on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, May 18th. LADENBURG THALM/SH SH lowered 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. Jefferies Financial Group cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Wells Fargo & Company lifted their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th.

Insider Buying and Selling

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 stock in a transaction that occurred on Wednesday, July 1st. The stock was 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 directly owned 285,149 shares of the company’s stock, valued at $22,957,345.99. This represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,284 shares of company stock worth $746,145 in the last quarter. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter worth about $552,280,000. Bank of America Corp DE boosted its stake in 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. boosted its stake in Public Service Enterprise Group by 3.4% during the fourth 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 in the last quarter. Pictet Asset Management Holding SA grew its holdings in Public Service Enterprise Group by 174.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after purchasing an additional 1,788,449 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Public Service Enterprise Group by 40.0% in 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. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 1.3%

Shares of NYSE:PEG opened at $80.21 on Friday. The stock’s 50-day moving average is $79.52 and its 200 day moving average is $80.92. The company has a market cap of $39.97 billion, a PE ratio of 17.75, a P/E/G ratio of 3.06 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. Public Service Enterprise Group has a 1 year low of $76.05 and a 1 year high of $91.25.

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

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 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.