Insider Selling: Public Service Enterprise Group (NYSE:PEG) COO Sells $248,870.00 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) COO Kim Hanemann sold 3,035 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the transaction, the chief operating officer directly owned 98,815 shares of the company’s stock, valued at $8,102,830. The trade was a 2.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Stock Performance

NYSE:PEG opened at $83.50 on Monday. The company has a market cap of $41.61 billion, a P/E ratio of 18.47, a P/E/G ratio of 3.14 and a beta of 0.51. Public Service Enterprise Group Incorporated has a twelve month low of $76.05 and a twelve month high of $91.25. The company’s 50-day moving average price is $79.36 and its 200-day moving average price is $80.82. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts forecast 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 59.29%.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Public Service Enterprise Group by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock valued at $5,420,155,000 after acquiring an additional 2,189,951 shares during the last quarter. State Street Corp increased its holdings in shares of Public Service Enterprise Group by 2.8% in the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after purchasing an additional 762,591 shares during the period. Bank of America Corp DE increased its holdings in shares of Public Service Enterprise Group by 1.4% in the third quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after purchasing an additional 236,794 shares during the period. Geode Capital Management LLC raised its stake in shares of Public Service Enterprise Group by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after purchasing an additional 114,351 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Public Service Enterprise Group by 8.1% during the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock worth $722,546,000 after purchasing an additional 648,140 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PEG shares. Barclays lifted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Jefferies Financial Group cut Public Service Enterprise Group from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $89.00 in a research note on Wednesday, April 15th. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a research report on Thursday, March 5th. Finally, Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.19.

Public Service Enterprise Group Company Profile

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.