Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) Price Target at $93.19

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $93.1923.

PEG has been the topic of a number of recent research reports. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. JPMorgan Chase & Co. lifted their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. LADENBURG THALM/SH SH lowered Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Weiss Ratings lowered Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Jefferies Financial Group lowered Public Service Enterprise Group from a “buy” rating to a “hold” rating and cut their price target for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th.

Insider Activity

In other news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the completion of the transaction, the chief executive officer directly owned 287,232 shares in the company, valued at $22,119,736.32. This trade represents a 0.72% 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. Insiders sold 6,249 shares of company stock worth $498,795 in the last ninety days. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently made changes to their positions in PEG. Empowered Funds LLC raised its position in shares of 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 acquiring an additional 940 shares during the last quarter. Woodline Partners LP raised its position in shares of Public Service Enterprise Group by 40.7% during the first quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock worth $3,464,000 after acquiring an additional 12,172 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Public Service Enterprise Group by 27.6% during the second quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock worth $405,000 after acquiring an additional 1,040 shares during the last quarter. Jump Financial LLC raised its position in shares of Public Service Enterprise Group by 70.4% during the second quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock worth $1,070,000 after acquiring an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Public Service Enterprise Group by 3.0% during the second quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock worth $4,785,000 after acquiring an additional 1,649 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $79.63 on Wednesday. The business’s 50-day moving average price is $79.57 and its 200-day moving average price is $80.87. Public Service Enterprise Group has a 12 month low of $76.05 and a 12 month high of $91.25. The firm has a market capitalization of $39.68 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 2.97 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.

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, beating analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the firm posted $1.43 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts forecast that Public Service Enterprise Group will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

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.