Public Service Enterprise Group (NYSE:PEG) Stock Gets Price Target Reduction from Morgan Stanley

Public Service Enterprise Group (NYSE:PEG) had its price target lowered by Morgan Stanley from $88.00 to $85.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Wells Fargo & Company lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 5th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Jefferies Financial Group dropped their target price on 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. Finally, Citigroup cut their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $86.07.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG opened at $71.99 on Wednesday. Public Service Enterprise Group has a fifty-two week low of $66.15 and a fifty-two week high of $87.63. The firm’s 50-day simple moving average is $71.40 and its 200 day simple moving average is $76.55. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The stock has a market cap of $35.88 billion, a P/E ratio of 17.07, a P/E/G ratio of 2.73 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The company’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts expect that Public Service Enterprise Group will post 4.38 EPS for the current year.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph LaRossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $67.48, for a total value of $140,560.84. Following the completion of the sale, the chief executive officer directly owned 279,490 shares of the company’s stock, valued at approximately $18,859,985.20. This represents a 0.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 approximately $1,563,523.20. This trade represents a 27.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,166 shares of company stock valued at $896,328 over the last three months. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PEG. Westfuller Advisors LLC grew its stake in shares of Public Service Enterprise Group by 7.3% in the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 129 shares during the period. Y.D. More Investments Ltd raised its holdings in shares of Public Service Enterprise Group by 22.5% in the 1st quarter. Y.D. More Investments Ltd now owns 866 shares of the utilities provider’s stock worth $70,000 after buying an additional 159 shares in the last quarter. Green Ridge Wealth Planning LLC raised its holdings in shares of Public Service Enterprise Group by 7.1% in the 2nd quarter. Green Ridge Wealth Planning LLC now owns 2,986 shares of the utilities provider’s stock worth $242,000 after buying an additional 198 shares in the last quarter. Syon Capital LLC lifted its position in shares of Public Service Enterprise Group by 2.0% during the 2nd quarter. Syon Capital LLC now owns 10,214 shares of the utilities provider’s stock worth $829,000 after buying an additional 199 shares during the period. Finally, RDA Financial Network lifted its position in shares of Public Service Enterprise Group by 3.6% during the 2nd quarter. RDA Financial Network now owns 5,996 shares of the utilities provider’s stock worth $487,000 after buying an additional 207 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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.