Public Service Enterprise Group (NYSE:PEG) Price Target Cut to $91.00 by Analysts at Wells Fargo & Company

Public Service Enterprise Group (NYSE:PEG) had its price target lowered by equities research analysts at Wells Fargo & Company from $97.00 to $91.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 15.97% from the stock’s previous close.

A number of other brokerages have also recently issued reports on PEG. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price for the company. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research report on Monday, April 13th. Jefferies Financial Group decreased their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research note on Monday. Finally, Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.25.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $78.47 on Wednesday. Public Service Enterprise Group has a twelve month low of $76.05 and a twelve month high of $91.25. The stock has a market capitalization of $39.10 billion, a P/E ratio of 17.36, a PEG ratio of 2.93 and a beta of 0.51. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The business’s fifty day moving average price is $79.58 and its 200 day moving average price is $80.86.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 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 will post 4.37 earnings per share for the current year.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer owned 285,149 shares of the company’s stock, valued at $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. This trade represents a 2.98% 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. Over the last quarter, insiders have sold 9,284 shares of company stock worth $746,145. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PEG. Tema ETFs LLC grew its holdings in Public Service Enterprise Group by 9.9% during the 2nd quarter. Tema ETFs LLC now owns 9,688 shares of the utilities provider’s stock valued at $786,000 after purchasing an additional 870 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Public Service Enterprise Group by 1.7% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,862 shares of the utilities provider’s stock worth $1,937,000 after buying an additional 397 shares in the last quarter. Community Financial Services Group LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter worth $25,000. Harrell Investment Partners LLC boosted its position in Public Service Enterprise Group by 7.3% in the 2nd quarter. Harrell Investment Partners LLC now owns 12,018 shares of the utilities provider’s stock valued at $975,000 after buying an additional 820 shares during the last quarter. Finally, Allied Private Wealth LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at about $71,000. 73.34% of the stock is owned by institutional investors and hedge funds.

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.