Public Service Enterprise Group (NYSE:PEG) Stock Price Target Cut by Royal Bank Of Canada

Public Service Enterprise Group (NYSE:PEG) had its price target decreased by equities researchers at Royal Bank Of Canada from $81.00 to $76.00 in a report released on Monday. Royal Bank Of Canada‘s price objective would suggest a potential upside of 5.02% from the stock’s current price.

PEG has been the topic of several other research reports. HSBC initiated coverage on Public Service Enterprise Group in a research note on Thursday, October 22nd. They issued a “hold” rating and a $72.50 price target on the stock. Wells Fargo & Company dropped their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a report on Wednesday, August 5th. Truist Financial cut their target price on shares of Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a report on Thursday, October 15th. Jefferies Financial Group reduced their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Finally, Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $82.89.

Public Service Enterprise Group Trading Up 0.4%

Public Service Enterprise Group stock traded up $0.26 during trading on Monday, hitting $72.36. The company’s stock had a trading volume of 411,579 shares, compared to its average volume of 3,054,036. The stock has a market capitalization of $36.07 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.70 and a beta of 0.50. Public Service Enterprise Group has a 1-year low of $66.15 and a 1-year high of $87.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The stock’s fifty day moving average is $71.45 and its 200 day moving average is $78.17.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%. The business’s quarterly revenue was down 8.9% on a year-over-year basis. During the same period last year, the company posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts predict that Public Service Enterprise Group will post 4.38 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $67.48, for a total transaction of $140,560.84. Following the completion of the sale, the chief executive officer owned 279,490 shares of the company’s stock, valued at approximately $18,859,985.20. The trade was a 0.74% 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. Over the last 90 days, insiders sold 12,166 shares of company stock valued at $896,328. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $4,366,570,000. Bank of America Corp DE bought a new stake in Public Service Enterprise Group in the second quarter valued at about $1,207,400,000. Legal & General Group Plc acquired a new position in Public Service Enterprise Group in the second quarter worth about $554,994,000. Bank of New York Mellon Corp acquired a new position in Public Service Enterprise Group in the second quarter worth about $221,632,000. Finally, Amundi raised its position in Public Service Enterprise Group by 71.6% in the second quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock worth $321,580,000 after purchasing an additional 1,653,832 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.