Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $90.95 Average PT from Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $90.9545.

PEG has been the subject of several recent research reports. Guggenheim cut their target price on shares of Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Sunday, July 20th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. UBS Group increased their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Finally, Evercore ISI dropped their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the sale, the chief executive officer owned 218,328 shares of the company’s stock, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Institutional Trading of Public Service Enterprise Group

Institutional investors have recently modified their holdings of the stock. Transce3nd LLC acquired a new stake in Public Service Enterprise Group in the 4th quarter worth about $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $25,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter worth approximately $25,000. REAP Financial Group LLC increased its position in shares of Public Service Enterprise Group by 105.9% during the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $27,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $85.0730 on Thursday. Public Service Enterprise Group has a 52-week low of $74.67 and a 52-week high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market cap of $42.46 billion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 2.94 and a beta of 0.45. The business has a 50-day simple moving average of $84.50 and a 200-day simple moving average of $82.32.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period last year, the business earned $0.63 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, equities analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is presently 63.64%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.