Public Service Enterprise Group (NYSE:PEG) Stock Rating Lowered by Wall Street Zen

Public Service Enterprise Group (NYSE:PEG) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research analysts also recently weighed in on PEG. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Citigroup dropped their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Truist Financial cut their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a report on Thursday. Wells Fargo & Company cut their price objective on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Finally, Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price for the company. One equities research 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.23.

Public Service Enterprise Group Trading Up 0.1%

Public Service Enterprise Group stock opened at $76.08 on Friday. The firm has a 50-day moving average of $79.11 and a 200-day moving average of $80.59. Public Service Enterprise Group has a one year low of $74.20 and a one year high of $87.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The company has a market cap of $37.92 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 2.86 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data 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. The company had revenue of $2.55 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 8.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts expect that Public Service Enterprise Group will post 4.36 earnings per share for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value 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 approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. 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 17,284 shares of company stock worth $1,332,751 over the last 90 days. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Large investors have recently added to or reduced their stakes in the business. Empowered Funds LLC boosted its position in Public Service Enterprise Group by 10.3% during the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares during the period. Woodline Partners LP raised its position in shares of Public Service Enterprise Group by 40.7% in the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after purchasing an additional 12,172 shares during the period. Cresset Asset Management LLC raised its position in shares of Public Service Enterprise Group by 27.6% in the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 1,040 shares during the period. Jump Financial LLC lifted its stake in shares of Public Service Enterprise Group by 70.4% during the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after buying an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after buying an additional 1,649 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

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.