Ralph Larossa Sells 2,083 Shares of Public Service Enterprise Group (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the sale, the chief executive officer owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Trading Up 1.4%

Shares of NYSE:PEG traded up $1.14 during trading on Thursday, reaching $81.41. The company’s stock had a trading volume of 2,873,513 shares, compared to its average volume of 2,920,273. The stock has a market capitalization of $40.57 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 3.05 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 12 month low of $76.05 and a 12 month high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The firm’s 50 day simple moving average is $79.36 and its two-hundred day simple moving average is $80.88.

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

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a dividend of $0.67 per share. The ex-dividend date was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. Public Service Enterprise Group’s payout ratio is 59.29%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial lowered their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a report on Monday, May 18th. JPMorgan Chase & Co. raised their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Barclays boosted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Finally, BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.32.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. CX Institutional lifted its stake in Public Service Enterprise Group by 13.1% in the second quarter. CX Institutional now owns 3,996 shares of the utilities provider’s stock worth $324,000 after acquiring an additional 462 shares during the period. Roxbury Financial LLC lifted its position in shares of Public Service Enterprise Group by 388.8% in 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 period. Western Wealth Management LLC bought a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $162,000. DV Trading LLC bought a new position in shares of Public Service Enterprise Group during the first quarter valued at approximately $243,000. Finally, Glenmede Trust Co. NA increased its holdings in Public Service Enterprise Group by 39.4% during 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 period. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Company Profile

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.