Public Service Enterprise Group (NYSE:PEG) Stock Rated Hold in New Coverage at HSBC

HSBC assumed coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a report issued on Thursday, Marketbeat.com reports. The firm issued a hold rating and a $72.50 price objective on the utilities provider’s stock.

Other equities analysts have also recently issued research reports about the company. Citigroup lowered their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Jefferies Financial Group cut their target price 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, July 20th. Weiss Ratings cut shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Morgan Stanley reduced their price objective on Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $86.07.

Public Service Enterprise Group Stock Down 1.0%

Shares of NYSE:PEG opened at $71.99 on Thursday. Public Service Enterprise Group has a 52 week low of $66.15 and a 52 week high of $87.63. The company has a market capitalization of $35.88 billion, a PE ratio of 17.91, a PEG ratio of 2.70 and a beta of 0.50. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The company has a 50 day moving average price of $71.40 and a two-hundred day moving average price of $76.55.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The firm’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. Analysts forecast that Public Service Enterprise Group will post 4.38 earnings per share for the current year.

Insider Buying and Selling at Public Service Enterprise Group

In related news, 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 completion of the sale, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ralph LaRossa sold 2,083 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $67.48, for a total transaction of $140,560.84. Following the sale, the chief executive officer directly owned 279,490 shares of the company’s stock, valued at $18,859,985.20. This represents a 0.74% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 12,166 shares of company stock worth $896,328. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC increased its holdings in Public Service Enterprise Group by 26.3% during the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock worth $5,593,000 after purchasing an additional 14,406 shares in the last quarter. Elevation Point Wealth Partners LLC increased its position in shares of Public Service Enterprise Group by 135.2% during 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 purchasing an additional 12,468 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in 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 buying an additional 34,415 shares during the last quarter. Commerce Bank bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $3,934,000. Finally, Quantinno Capital Management LP raised its stake in shares of Public Service Enterprise Group by 66.2% in the first quarter. Quantinno Capital Management LP now owns 359,477 shares of the utilities provider’s stock valued at $29,100,000 after buying an additional 143,148 shares during the period. 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), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.