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

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard Thigpen sold 4,700 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the transaction, the senior vice president owned 28,481 shares of the company’s stock, valued at $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG traded down $0.06 during trading on Thursday, reaching $83.85. 310,443 shares of the company traded hands, compared to its average volume of 2,989,309. The stock has a market cap of $41.82 billion, a P/E ratio of 19.87, a PEG ratio of 2.74 and a beta of 0.60. The firm’s fifty day simple moving average is $81.70 and its 200 day simple moving average is $81.81. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. Public Service Enterprise Group Incorporated has a 12-month low of $74.67 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm 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 company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, research analysts anticipate 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.72%.

Institutional Investors Weigh In On Public Service Enterprise Group

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 3.4% in 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 during the last quarter. State Street Corp lifted its holdings in Public Service Enterprise Group by 2.8% in the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after purchasing an additional 762,591 shares in the last quarter. Bank of America Corp DE lifted its holdings in Public Service Enterprise Group by 1.4% in the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after purchasing an additional 236,794 shares in the last quarter. Geode Capital Management LLC boosted its stake in Public Service Enterprise Group by 0.9% during 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 last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Public Service Enterprise Group by 8.1% during the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock worth $722,546,000 after buying an additional 648,140 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PEG shares. Scotiabank reaffirmed a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Barclays dropped their target price on Public Service Enterprise Group from $87.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $85.00 price target (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Finally, Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective on the stock in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $92.12.

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.