Kim Hanemann Sells 3,035 Shares of Public Service Enterprise Group (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) COO Kim Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Trading Up 1.0%

Shares of NYSE PEG opened at $83.50 on Friday. Public Service Enterprise Group Incorporated has a fifty-two week low of $76.05 and a fifty-two week high of $91.25. The firm has a market capitalization of $41.61 billion, a P/E ratio of 18.47, a P/E/G ratio of 3.14 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 company’s 50 day simple moving average is $79.36 and its 200 day simple moving average is $80.81.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion during 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.29%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PEG. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price on the stock in a report on Thursday, March 5th. Truist Financial dropped their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, May 18th. 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 note on Thursday, March 5th. Wells Fargo & Company raised their price target on 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, JPMorgan Chase & Co. boosted their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average price target of $93.19.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PEG. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. lifted its position in shares of Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares in the last quarter. Bayban acquired a new position in Public Service Enterprise Group during the fourth quarter worth $33,000. Motiv8 Investments LLC acquired a new position in Public Service Enterprise Group during the fourth quarter worth $40,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Public Service Enterprise Group in the fourth quarter valued at $44,000. 73.34% of the stock is currently 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.