Public Service Enterprise Group (NYSE:PEG) Stock Bumped Up to Hold by Wall Street Zen

Wall Street Zen upgraded shares of Public Service Enterprise Group (NYSE:PEG) from a sell rating to a hold rating in a research report sent to investors on Saturday,Wall Street Zen reports.

PEG has been the topic of several other research reports. Jefferies Financial Group decreased 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. Citigroup dropped their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. 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. Royal Bank Of Canada initiated 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 on the stock. Finally, Truist Financial lowered their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $89.23.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $66.99 on Friday. The firm has a market capitalization of $33.39 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 2.52 and a beta of 0.50. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group has a 12-month low of $66.15 and a 12-month high of $87.63. The firm has a 50-day moving average price of $74.14 and a 200 day moving average price of $78.21.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s quarterly revenue was down 8.9% on a year-over-year basis. 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 given a $0.67 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 4.0%. Public Service Enterprise Group’s payout ratio is presently 66.67%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph LaRossa sold 2,083 shares of the business’s stock in a transaction 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 transaction, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. The trade was a 0.73% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the 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 owned 20,970 shares in the company, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 12,166 shares of company stock worth $923,469. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Entropy Technologies LP lifted its holdings in Public Service Enterprise Group by 115.6% during the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock worth $1,985,000 after buying an additional 13,253 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of Public Service Enterprise Group by 26.3% in the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock valued at $5,593,000 after buying an additional 14,406 shares during the period. Elevation Point Wealth Partners LLC increased its stake in shares of Public Service Enterprise Group by 135.2% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock valued at $1,756,000 after buying an additional 12,468 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Public Service Enterprise Group by 120.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock worth $5,108,000 after acquiring an additional 34,415 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its position in shares of Public Service Enterprise Group by 38.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock worth $156,305,000 after acquiring an additional 536,363 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

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.