Truist Financial Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $88.00

Public Service Enterprise Group (NYSE:PEG) had its price objective cut by analysts at Truist Financial from $91.00 to $88.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the utilities provider’s stock. Truist Financial’s price objective would indicate a potential upside of 15.24% from the stock’s current price.

Several other equities research analysts have also recently weighed in on PEG. Wells Fargo & Company increased their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $90.00 to $89.00 in a report on Wednesday, April 15th. Scotiabank restated a “sector perform” rating and set a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Friday, March 27th. Finally, LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the company from $87.50 to $84.50 in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.19.

Public Service Enterprise Group Price Performance

Shares of PEG traded down $0.08 during midday trading on Monday, reaching $76.37. The stock had a trading volume of 517,924 shares, compared to its average volume of 2,893,332. The company’s 50-day moving average is $81.04 and its 200 day moving average is $81.32. Public Service Enterprise Group has a 12-month low of $76.09 and a 12-month high of $91.25. 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 company has a market capitalization of $38.05 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.Public Service Enterprise Group’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts predict that Public Service Enterprise Group will post 4.36 EPS for the current fiscal year.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $81.21, for a total value of $169,160.43. Following the completion of the sale, the chief executive officer owned 289,315 shares in the company, valued at approximately $23,495,271.15. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 10,949 shares of company stock valued at $902,747. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter worth approximately $25,000. Quest 10 Wealth Builders Inc. lifted its holdings in Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after buying an additional 248 shares during the period. Bayban purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $33,000. Motiv8 Investments LLC purchased a new position in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Public Service Enterprise Group in the 3rd quarter valued at approximately $43,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.