Truist Financial Issues Pessimistic Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its target price decreased by research analysts at Truist Financial from $90.00 to $84.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “hold” rating on the utilities provider’s stock. Truist Financial’s price target suggests a potential upside of 10.59% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Citigroup lowered their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Finally, Jefferies Financial Group decreased their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $90.23.

Public Service Enterprise Group Stock Up 0.1%

PEG stock traded up $0.09 during midday trading on Thursday, hitting $75.96. The company’s stock had a trading volume of 752,977 shares, compared to its average volume of 2,917,649. The firm’s 50-day moving average is $79.22 and its 200-day moving average is $80.63. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group has a 12 month low of $74.20 and a 12 month high of $87.63. The company has a market cap of $37.86 billion, a PE ratio of 18.89, a P/E/G ratio of 2.83 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned $0.77 EPS. The company’s quarterly revenue was down 8.9% 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 will post 4.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following 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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 17,284 shares of company stock valued at $1,332,751. Insiders own 0.19% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Simplicity Wealth LLC lifted its position in Public Service Enterprise Group by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock worth $320,000 after buying an additional 129 shares in the last quarter. Westfuller Advisors LLC grew its holdings in shares of Public Service Enterprise Group by 7.3% during the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock valued at $153,000 after acquiring an additional 129 shares in the last quarter. Key Financial Inc grew its holdings in shares of Public Service Enterprise Group by 2.6% during the 4th quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 133 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Public Service Enterprise Group by 4.3% in the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after acquiring an additional 134 shares during the last quarter. Finally, CFS Investment Advisory Services LLC increased its stake in shares of Public Service Enterprise Group by 1.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock worth $1,068,000 after acquiring an additional 138 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.