Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) Target Price at $89.43

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $89.4333.

A number of equities analysts recently weighed in on PEG shares. Wells Fargo & Company lowered their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. Truist Financial lowered their price objective on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a research note on Thursday, August 13th. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th.

Public Service Enterprise Group Stock Down 0.4%

Public Service Enterprise Group stock opened at $73.07 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $78.06 and a 200 day simple moving average of $80.12. The company has a market cap of $36.42 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 2.76 and a beta of 0.51. Public Service Enterprise Group has a 1-year low of $72.53 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.Public Service Enterprise Group’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts anticipate that Public Service Enterprise Group will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be paid a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.7%. Public Service Enterprise Group’s dividend payout ratio is currently 66.67%.

Insider Activity

In other news, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction that occurred 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 transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,284 shares of company stock valued at $1,332,751 over the last three months. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tucker Asset Management LLC bought a new position in shares of Public Service Enterprise Group in the second quarter valued at about $333,000. Amundi boosted its holdings in shares of Public Service Enterprise Group by 71.6% during the 2nd quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock worth $321,580,000 after buying an additional 1,653,832 shares during the period. Groupe la Francaise grew its stake in Public Service Enterprise Group by 8.3% in the 2nd quarter. Groupe la Francaise now owns 5,440 shares of the utilities provider’s stock valued at $442,000 after buying an additional 417 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at about $15,071,000. Finally, California State Teachers Retirement System raised its holdings in Public Service Enterprise Group by 15,435.7% in the 2nd quarter. California State Teachers Retirement System now owns 89,498,622 shares of the utilities provider’s stock valued at $7,263,708,000 after acquiring an additional 88,922,538 shares during the period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Company Profile

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.