Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $90.00

Public Service Enterprise Group (NYSE:PEG) had its price objective boosted by Truist Financial from $88.00 to $90.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a hold rating on the utilities provider’s stock.

Other research analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. 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 research report on Wednesday, April 15th. BMO Capital Markets lifted their price target on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target for the company. Finally, Wells Fargo & Company increased their price target on Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One 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 stock. According to MarketBeat.com, Public Service Enterprise Group has an average rating of “Moderate Buy” and a consensus price target of $92.46.

Public Service Enterprise Group Price Performance

NYSE:PEG opened at $78.58 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The firm has a market cap of $39.16 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 2.96 and a beta of 0.51. The company has a 50 day moving average price of $79.60 and a 200-day moving average price of $80.90. Public Service Enterprise Group has a 1-year low of $76.05 and a 1-year high of $91.25.

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

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.29%.

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the transaction, the chief executive officer directly owned 285,149 shares of the company’s stock, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their position. The sale 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, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group 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 completion of the sale, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,284 shares of company stock valued at $746,145 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently made changes to their positions in the company. Strategic Investment Advisors MI increased its position in Public Service Enterprise Group by 0.8% during the third quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 127 shares during the last quarter. Simplicity Wealth LLC boosted its holdings 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 valued at $320,000 after purchasing an additional 129 shares during the last quarter. Westfuller Advisors LLC boosted its holdings in 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 last quarter. Key Financial Inc grew its stake in shares of Public Service Enterprise Group by 2.6% in the 4th quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock valued at $419,000 after buying an additional 133 shares during the period. Finally, Benjamin Edwards Inc. grew its stake in shares of Public Service Enterprise Group by 4.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.