HSBC Initiates Coverage on Public Service Enterprise Group (NYSE:PEG)

Equities research analysts at HSBC started coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a report issued on Thursday, Briefing.com reports. The brokerage set a “hold” rating and a $72.50 price target on the utilities provider’s stock. HSBC’s price target points to a potential upside of 2.09% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. 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 on the stock in a report on Wednesday, August 5th. Truist Financial reduced their target price on 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. Jefferies Financial Group reduced their target price on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Morgan Stanley dropped their price target on Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Citigroup dropped their price target on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $86.07.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $71.02 on Thursday. The stock has a market cap of $35.40 billion, a P/E ratio of 17.67, a PEG ratio of 2.66 and a beta of 0.50. 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 business’s 50-day moving average price is $71.54 and its two-hundred day moving average price is $76.65. Public Service Enterprise Group has a twelve month low of $66.15 and a twelve month high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%. Public Service Enterprise Group’s revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 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 4.38 EPS for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph LaRossa sold 2,083 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total value of $140,560.84. Following the completion of the sale, the chief executive officer owned 279,490 shares of the company’s stock, valued at approximately $18,859,985.20. The trade was a 0.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the 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 sale, the senior vice president 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 12,166 shares of company stock valued at $896,328. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

A number of institutional investors have recently made changes to their positions in PEG. BlackRock Inc. purchased a new position in shares of Public Service Enterprise Group in the second quarter worth $4,366,570,000. Bank of America Corp DE bought a new position in shares of Public Service Enterprise Group during the second quarter valued at about $1,207,400,000. Legal & General Group Plc purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth about $554,994,000. Bank of New York Mellon Corp bought a new stake in shares of Public Service Enterprise Group in the second quarter worth about $221,632,000. Finally, Amundi grew its stake in shares of Public Service Enterprise Group by 71.6% in the second quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock worth $321,580,000 after purchasing an additional 1,653,832 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

About Public Service Enterprise Group

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.