Public Service Enterprise Group (NYSE:PEG) Sets New 12-Month Low – Here’s What Happened

Public Service Enterprise Group Incorporated (NYSE:PEG)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $76.50 and last traded at $76.6180, with a volume of 674737 shares changing hands. The stock had previously closed at $77.75.

Analysts Set New Price Targets

A number of research analysts have issued reports on PEG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. Truist Financial initiated coverage on shares of Public Service Enterprise Group in a research report on Tuesday, April 21st. They issued a “hold” rating and a $91.00 target price on the stock. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their target price for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Wells Fargo & Company upped their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.42.

Public Service Enterprise Group Stock Down 1.6%

The stock’s 50-day moving average price is $81.04 and its two-hundred day moving average price is $81.33. The stock has a market capitalization of $38.12 billion, a PE ratio of 16.93, a P/E/G ratio of 2.88 and a beta of 0.53. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts expect that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a $0.67 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the transaction, the senior vice president owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the completion of the transaction, the chief executive officer owned 289,315 shares in the company, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 10,949 shares of company stock worth $902,747. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently bought and sold shares of PEG. Norges Bank bought a new position in Public Service Enterprise Group during the 4th quarter valued at about $552,280,000. Bank of America Corp DE lifted its stake in Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after acquiring an additional 3,469,886 shares during the period. Vanguard Group Inc. lifted its stake in Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after acquiring an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA lifted its stake in Public Service Enterprise Group by 174.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after acquiring an additional 1,788,449 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Public Service Enterprise Group by 40.0% during the 4th quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock valued at $217,483,000 after acquiring an additional 774,256 shares during the period. 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.