Public Service Enterprise Group (NYSE:PEG) CEO Ralph Larossa Sells 2,083 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the sale, the chief executive officer directly owned 285,149 shares in the company, valued at $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Stock Up 1.6%

NYSE PEG opened at $81.55 on Friday. The stock has a fifty day moving average of $79.42 and a 200-day moving average of $80.89. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The stock has a market capitalization of $40.64 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 3.02 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the previous year, the business posted $1.43 EPS. The company’s quarterly revenue was up 19.4% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were paid a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Institutional Trading of Public Service Enterprise Group

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of Public Service Enterprise Group in the fourth quarter worth about $552,280,000. Bank of America Corp DE increased its holdings in Public Service Enterprise Group by 24.7% in the second 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 purchasing an additional 3,469,886 shares during the period. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after buying an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA increased its position in Public Service Enterprise Group by 174.9% during the 4th quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after purchasing an additional 1,788,449 shares during the period. Finally, Van ECK Associates Corp raised its stake in 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 last quarter. Institutional investors own 73.34% of the company’s stock.

Analyst Ratings Changes

PEG has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $87.50 to $84.50 in a report on Friday, March 13th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Wall Street Zen upgraded shares of 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 report on Thursday. They set a “sector perform” rating and a $81.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $92.32.

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.