Public Service Enterprise Group (NYSE:PEG) SVP Richard Thigpen Sells 4,700 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard Thigpen sold 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were 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 in the company, valued at $2,363,923. This represents a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Public Service Enterprise Group Stock Performance

PEG traded down $0.10 during trading hours on Wednesday, reaching $83.86. The company’s stock had a trading volume of 3,386,788 shares, compared to its average volume of 2,554,495. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The company’s 50-day moving average is $81.64 and its 200-day moving average is $81.80. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25. The firm has a market cap of $41.82 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.74 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. Public Service Enterprise Group’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities analysts forecast that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a dividend of $0.67 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is 59.72%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PEG shares. BMO Capital Markets dropped their price objective on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. TD Cowen upped their price objective on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target on the stock in a research report on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $91.12.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $552,280,000. Bank of America Corp DE boosted its stake in shares of Public Service Enterprise Group by 24.7% in the 2nd 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 last quarter. Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Public Service Enterprise Group by 174.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock worth $225,704,000 after buying an additional 1,788,449 shares during the period. Finally, Invesco Ltd. raised its stake in Public Service Enterprise Group by 27.8% during the second quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock worth $544,973,000 after buying an additional 1,408,707 shares during the last quarter. 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.