Morgan Stanley Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $88.00

Public Service Enterprise Group (NYSE:PEG) had its price target reduced by analysts at Morgan Stanley from $91.00 to $88.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective points to a potential upside of 25.58% from the stock’s current price.

A number of other research analysts also recently issued reports on PEG. Jefferies Financial Group dropped their price target on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 target price for the company. Truist Financial dropped their target price on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Wells Fargo & Company cut their price target 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. Finally, Citigroup decreased their price target 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and a consensus target price of $89.23.

Public Service Enterprise Group Trading Down 1.3%

Shares of PEG stock traded down $0.91 on Friday, hitting $70.08. The company had a trading volume of 1,246,294 shares, compared to its average volume of 2,894,681. The firm has a market cap of $34.93 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.65 and a beta of 0.50. The stock’s 50-day moving average is $75.55 and its two-hundred day moving average is $78.83. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. Public Service Enterprise Group has a twelve month low of $69.91 and a twelve month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the firm earned $0.77 earnings per share. 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. On average, equities research analysts anticipate that Public Service Enterprise Group will post 4.36 earnings per share for the current fiscal year.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the sale, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,201 shares of company stock worth $1,172,339 in the last quarter. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Public Service Enterprise Group in the second quarter worth approximately $4,366,570,000. Bank of America Corp DE bought a new stake in Public Service Enterprise Group during the 2nd quarter valued at $1,207,400,000. Geode Capital Management LLC raised its holdings in Public Service Enterprise Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after buying an additional 114,351 shares during the last quarter. Norges Bank bought a new position in shares of Public Service Enterprise Group in the fourth quarter valued at $552,280,000. Finally, Legal & General Group Plc acquired a new position in shares of Public Service Enterprise Group during the second quarter valued at about $554,994,000. Institutional investors own 73.34% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.