Public Service Enterprise Group (NYSE:PEG) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Public Service Enterprise Group (NYSE:PEG) from a hold rating to a sell rating in a report issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $85.00 price objective (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a research note on Wednesday, January 7th. UBS Group decreased their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. Wells Fargo & Company raised their price target on Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.73.

Public Service Enterprise Group Price Performance

PEG stock opened at $84.06 on Friday. The stock has a market capitalization of $41.92 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 2.71 and a beta of 0.60. The firm’s 50-day moving average price is $81.89 and its two-hundred day moving average price is $81.79. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share 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 analyst estimates 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 revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

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

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at $2,363,923. The trade was a 14.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the sale, the chief executive officer owned 292,889 shares in the company, valued at $24,503,093.74. The trade was a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC raised its position in shares of Public Service Enterprise Group by 2.7% in the 4th quarter. Corient Private Wealth LLC now owns 203,396 shares of the utilities provider’s stock worth $16,350,000 after purchasing an additional 5,299 shares during the last quarter. Union Savings Bank bought a new position in Public Service Enterprise Group in the 4th quarter worth about $99,000. Hsbc Holdings PLC grew its position in Public Service Enterprise Group by 47.6% during the 4th quarter. Hsbc Holdings PLC now owns 1,472,165 shares of the utilities provider’s stock valued at $118,305,000 after purchasing an additional 474,484 shares during the last quarter. Bayban purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at about $33,000. Finally, Tulsa Wealth Advisors INC bought a new stake in Public Service Enterprise Group during the 4th quarter valued at about $1,125,000. 73.34% of the stock is currently owned by 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.