Public Service Enterprise Group (NYSE:PEG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Public Service Enterprise Group (NYSE:PEG) from a sell rating to a hold rating in a research report report published on Saturday morning,Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Citigroup cut their price objective on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Morgan Stanley decreased their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, September 18th. Wells Fargo & Company lowered their target price 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. Finally, Truist Financial dropped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $89.23.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $66.71 on Friday. 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 has a 1 year low of $66.15 and a 1 year high of $87.63. The firm has a market capitalization of $33.25 billion, a PE ratio of 16.59, a P/E/G ratio of 2.52 and a beta of 0.50. The business’s 50 day moving average price is $73.91 and its 200-day moving average price is $78.05.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the prior year, the company earned $0.77 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts expect that Public Service Enterprise Group will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.67%.

Insider Activity

In other news, CEO Ralph LaRossa sold 2,083 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the sale, the chief executive officer owned 283,656 shares of the company’s stock, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $596,480.00. Following the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,166 shares of company stock valued at $923,469. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth $4,366,570,000. State Street Corp lifted its position in Public Service Enterprise Group by 1.4% during the 2nd quarter. State Street Corp now owns 29,481,434 shares of the utilities provider’s stock worth $2,392,713,000 after acquiring an additional 399,191 shares in the last quarter. Bank of America Corp DE purchased a new position in Public Service Enterprise Group in the 2nd quarter worth approximately $1,207,400,000. Geode Capital Management LLC grew its position in Public Service Enterprise Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock valued at $1,021,475,000 after acquiring an additional 114,351 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Public Service Enterprise Group during the fourth quarter worth $552,280,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.