Morgan Stanley Has Lowered Expectations for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price target decreased by Morgan Stanley from $88.00 to $85.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target points to a potential upside of 19.32% from the stock’s current price.

A number of other research analysts have also recently commented on PEG. Royal Bank Of Canada began coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. 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. Truist Financial dropped their target price on shares of Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, October 15th. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Finally, Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.77.

Public Service Enterprise Group Trading Up 0.5%

PEG traded up $0.38 during trading hours on Wednesday, reaching $71.24. 863,630 shares of the company’s stock traded hands, compared to its average volume of 3,061,847. The firm has a 50-day moving average price of $71.64 and a 200 day moving average price of $76.72. Public Service Enterprise Group has a 52-week low of $66.15 and a 52-week high of $87.63. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $35.51 billion, a PE ratio of 17.72, a PEG ratio of 2.65 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share 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 for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The business’s 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. As a group, sell-side analysts predict that Public Service Enterprise Group will post 4.37 EPS for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the sale, the senior vice president directly owned 20,970 shares of the company’s stock, valued at $1,563,523.20. This represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the transaction, the chief executive officer owned 279,490 shares in the company, valued at approximately $18,859,985.20. The trade was a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 12,166 shares of company stock worth $896,328. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Several large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Public Service Enterprise Group during the second quarter valued at approximately $4,366,570,000. State Street Corp lifted its holdings in Public Service Enterprise Group by 1.4% during the second quarter. State Street Corp now owns 29,481,434 shares of the utilities provider’s stock worth $2,392,713,000 after buying an additional 399,191 shares during the period. Bank of America Corp DE purchased a new stake in Public Service Enterprise Group during the second quarter worth $1,207,400,000. Legal & General Group Plc purchased a new stake in Public Service Enterprise Group during the second quarter worth $554,994,000. Finally, Amundi boosted its position in Public Service Enterprise Group by 71.6% during the 2nd quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock valued at $321,580,000 after acquiring an additional 1,653,832 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.