Public Service Enterprise Group (NYSE:PEG) Coverage Initiated at Royal Bank Of Canada

Analysts at Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a research report issued to clients and investors on Thursday. The brokerage set a “sector perform” rating and a $81.00 price target on the utilities provider’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 0.84% from the stock’s current price.

Several other brokerages also recently weighed in on PEG. Barclays upped their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Truist Financial decreased their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and an average price target of $92.32.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $80.33 on Thursday. The company has a market cap of $40.03 billion, a P/E ratio of 17.77, a P/E/G ratio of 3.05 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The stock has a 50-day moving average of $79.36 and a two-hundred day moving average of $80.88. Public Service Enterprise Group has a 1-year low of $76.05 and a 1-year high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts anticipate that Public Service Enterprise Group will post 4.37 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the sale, the chief executive officer directly owned 287,232 shares in the company, valued at approximately $22,119,736.32. The trade was a 0.72% 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. Insiders sold 7,201 shares of company stock worth $578,442 over the last quarter. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Public Service Enterprise Group

Several institutional investors and hedge funds have recently bought and sold shares of PEG. Roxbury Financial LLC grew its position in Public Service Enterprise Group by 388.8% during the 2nd quarter. Roxbury Financial LLC now owns 1,090 shares of the utilities provider’s stock worth $88,000 after purchasing an additional 867 shares during the last quarter. Western Wealth Management LLC acquired a new position in Public Service Enterprise Group in the first quarter valued at $162,000. DV Trading LLC purchased a new stake in shares of Public Service Enterprise Group in the first quarter valued at about $243,000. Glenmede Trust Co. NA raised its holdings in shares of Public Service Enterprise Group by 39.4% in the first quarter. Glenmede Trust Co. NA now owns 64,755 shares of the utilities provider’s stock valued at $5,242,000 after buying an additional 18,305 shares during the last quarter. Finally, Groupama Asset Managment boosted its stake in shares of Public Service Enterprise Group by 11.7% during the first quarter. Groupama Asset Managment now owns 13,983 shares of the utilities provider’s stock worth $1,132,000 after buying an additional 1,462 shares during the period. Hedge funds and other 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.