Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $89.43 Average Price Target from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received an average recommendation of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $89.2333.

PEG has been the subject of a number of research analyst reports. Wall Street Zen downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Jefferies Financial Group cut 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 report on Monday, July 20th. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price objective for the company. Wells Fargo & Company decreased their price target 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. Finally, Morgan Stanley lowered their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard Thigpen sold 8,000 shares of the company’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 sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Kim Hanemann sold 3,035 shares of the firm’s 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 completion of the transaction, 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. In the last three months, insiders have sold 15,201 shares of company stock worth $1,172,339. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PEG. Sequoia Financial Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 20.5% in the second quarter. Sequoia Financial Advisors LLC now owns 34,091 shares of the utilities provider’s stock worth $2,767,000 after buying an additional 5,796 shares in the last quarter. Tidal Investments LLC grew its position in shares of Public Service Enterprise Group by 185.2% during the 2nd quarter. Tidal Investments LLC now owns 194,489 shares of the utilities provider’s stock valued at $15,785,000 after purchasing an additional 126,300 shares in the last quarter. National Pension Service grew its position in shares of Public Service Enterprise Group by 2.8% during the 2nd quarter. National Pension Service now owns 732,199 shares of the utilities provider’s stock valued at $59,425,000 after purchasing an additional 19,898 shares in the last quarter. WINTON GROUP Ltd increased its holdings in shares of Public Service Enterprise Group by 86.2% in the second quarter. WINTON GROUP Ltd now owns 15,337 shares of the utilities provider’s stock worth $1,245,000 after purchasing an additional 7,101 shares during the period. Finally, Engineers Gate Manager LP increased its holdings in shares of Public Service Enterprise Group by 74.4% in the second quarter. Engineers Gate Manager LP now owns 105,592 shares of the utilities provider’s stock worth $8,570,000 after purchasing an additional 45,056 shares during the period. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $69.77 on Friday. The company has a fifty day moving average price of $75.34 and a 200-day moving average price of $78.73. The firm has a market cap of $34.78 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 2.63 and a beta of 0.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group has a 1 year low of $69.72 and a 1 year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the firm earned $0.77 earnings per share. The firm’s 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 research analysts predict that Public Service Enterprise Group will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be issued a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a yield of 3.8%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.67%.

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.