Public Service Enterprise Group (NYSE:PEG) Sets New 52-Week Low – Here’s Why

Public Service Enterprise Group Incorporated (NYSE:PEG)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $70.25 and last traded at $70.5690, with a volume of 112897 shares traded. The stock had previously closed at $70.92.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PEG shares. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. Jefferies Financial Group reduced their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Truist Financial lowered their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $89.43.

Public Service Enterprise Group Price Performance

The business’s 50 day moving average price is $75.74 and its 200-day moving average price is $78.94. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The company has a market cap of $35.07 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was down 8.9% 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, analysts forecast that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.67%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president directly owned 20,970 shares in the company, valued at approximately $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 can be accessed through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. The trade was a 0.73% decrease in their position. 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 15,201 shares of company stock worth $1,172,339 over the last ninety days. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PEG. BlackRock Inc. bought a new position in Public Service Enterprise Group during the second quarter valued at about $4,366,570,000. Bank of America Corp DE purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $1,207,400,000. Geode Capital Management LLC boosted its stake in Public Service Enterprise Group by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after purchasing an additional 114,351 shares during the period. Legal & General Group Plc purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth about $554,994,000. Finally, Norges Bank purchased a new stake in Public Service Enterprise Group in the 4th quarter worth about $552,280,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.