Public Service Enterprise Group Incorporated (NYSE:PEG – Get Free Report) CEO Ralph Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer owned 283,656 shares in the company, valued at $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Public Service Enterprise Group Trading Down 0.1%
PEG stock traded down $0.06 during midday trading on Tuesday, hitting $76.56. 3,329,416 shares of the company’s stock were exchanged, compared to its average volume of 2,928,495. The business has a 50-day simple moving average of $79.67 and a two-hundred day simple moving average of $80.82. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $38.15 billion, a PE ratio of 16.91, a P/E/G ratio of 2.89 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1-year low of $74.20 and a 1-year high of $91.25.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced 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 return on equity of 12.30% and a net margin of 17.69%.The business had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the company posted $0.77 EPS. 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. On average, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current fiscal year.
Public Service Enterprise Group Announces Dividend
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Public Service Enterprise Group during the 4th quarter worth about $552,280,000. Bank of America Corp DE boosted its stake in shares of Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after buying an additional 3,469,886 shares during the period. Vanguard Group Inc. grew its position in shares of Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Public Service Enterprise Group by 174.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after buying an additional 1,788,449 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Public Service Enterprise Group by 40.0% during the fourth quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider’s stock worth $217,483,000 after buying an additional 774,256 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. BMO Capital Markets lifted their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. Truist Financial boosted their target price on Public Service Enterprise Group from $88.00 to $90.00 and gave the company 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 note on Saturday, May 9th. Finally, Royal Bank Of Canada started coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.25.
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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.
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