Public Service Enterprise Group (NYSE:PEG) SVP Sells 8,000 Shares of Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard Thigpen sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Public Service Enterprise Group Price Performance

PEG traded up $0.47 during midday trading on Wednesday, reaching $75.68. 2,016,444 shares of the company’s stock were exchanged, compared to its average volume of 2,932,224. Public Service Enterprise Group Incorporated has a 1-year low of $74.20 and a 1-year high of $88.65. The stock has a market capitalization of $37.72 billion, a PE ratio of 18.83, a P/E/G ratio of 2.81 and a beta of 0.51. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The business’s 50-day moving average price is $79.26 and its 200 day moving average price is $80.66.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business earned $0.77 earnings per share. The company’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. As a group, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PEG shares. Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Jefferies Financial Group decreased their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Truist Financial lifted their price objective on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Hold” and an average price target of $90.63.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PEG. Entropy Technologies LP grew its position in shares of Public Service Enterprise Group by 115.6% in the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock worth $1,985,000 after acquiring an additional 13,253 shares in the last quarter. Kestra Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 26.3% during the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock valued at $5,593,000 after acquiring an additional 14,406 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Public Service Enterprise Group by 120.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock worth $5,108,000 after purchasing an additional 34,415 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its stake in Public Service Enterprise Group by 135.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock worth $1,756,000 after purchasing an additional 12,468 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC boosted its holdings in Public Service Enterprise Group by 38.0% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock worth $156,305,000 after purchasing an additional 536,363 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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.