Morgan Stanley Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $88.00

Public Service Enterprise Group (NYSE:PEG) had its price objective decreased by Morgan Stanley from $91.00 to $88.00 in a research report report published on Friday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

A number of other equities analysts have also issued reports on PEG. Wells Fargo & Company lowered their price target on 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. Citigroup reduced their price objective 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. Truist Financial decreased their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Jefferies Financial Group decreased their price objective on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Finally, Royal Bank Of Canada initiated coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.23.

Public Service Enterprise Group Stock Up 0.0%

PEG stock opened at $69.77 on Friday. The company has a fifty day moving average price of $75.34 and a 200 day moving average price of $78.73. Public Service Enterprise Group has a 12 month low of $69.72 and a 12 month high of $87.63. The company has a market cap of $34.78 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.63 and a beta of 0.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly 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. The firm had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. Public Service Enterprise Group’s quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts expect that Public Service Enterprise Group will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph LaRossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the sale, the chief executive officer directly owned 283,656 shares in the company, valued at $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the completion of the transaction, the senior vice president owned 20,970 shares of the company’s stock, valued at $1,563,523.20. The trade was a 27.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,201 shares of company stock worth $1,172,339 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several hedge funds and other institutional investors have recently made changes to their positions in PEG. Community Financial Services Group LLC purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $26,000. Elevation Wealth Partners LLC increased its stake in Public Service Enterprise Group by 240.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 243 shares in the last quarter. Aberdeen Wealth Management LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $32,000. Finally, Montgomery Financial Services LLC acquired a new position in Public Service Enterprise Group during the second quarter worth $33,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.