Ralph Larossa Sells 2,083 Shares of Public Service Enterprise Group (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $81.55 on Friday. The stock has a 50-day simple moving average of $79.48 and a 200 day simple moving average of $80.90. The stock has a market capitalization of $40.64 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 3.07 and a beta of 0.51. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter last year, the company posted $1.43 EPS. The company’s quarterly revenue was up 19.4% 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, research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th were issued a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 59.29%.

Analyst Ratings Changes

Several research analysts have issued reports on PEG shares. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wells Fargo & Company lifted their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday. They set a “sector perform” rating and a $81.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $92.32.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CX Institutional raised its position in shares of Public Service Enterprise Group by 13.1% in the 2nd quarter. CX Institutional now owns 3,996 shares of the utilities provider’s stock valued at $324,000 after acquiring an additional 462 shares during the period. Roxbury Financial LLC grew its holdings in Public Service Enterprise Group by 388.8% during the second quarter. Roxbury Financial LLC now owns 1,090 shares of the utilities provider’s stock valued at $88,000 after purchasing an additional 867 shares during the period. Western Wealth Management LLC bought a new stake in Public Service Enterprise Group in the first quarter valued at approximately $162,000. DV Trading LLC bought a new stake in Public Service Enterprise Group in the first quarter valued at approximately $243,000. Finally, Glenmede Trust Co. NA raised its holdings in Public Service Enterprise Group by 39.4% in the first quarter. Glenmede Trust Co. NA now owns 64,755 shares of the utilities provider’s stock worth $5,242,000 after purchasing an additional 18,305 shares during the period. Institutional investors own 73.34% of the company’s stock.

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.