Truist Financial Issues Positive Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price target hoisted by Truist Financial from $88.00 to $90.00 in a report published on Thursday,Benzinga reports. The firm currently has a hold rating on the utilities provider’s stock.

PEG has been the subject of a number of other research reports. BMO Capital Markets upped their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. Jefferies Financial Group downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $89.00 in a research report on Wednesday, April 15th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $92.46.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG opened at $79.45 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company has a 50-day moving average price of $79.57 and a 200-day moving average price of $80.91. The company has a market cap of $39.59 billion, a price-to-earnings ratio of 17.58, a price-to-earnings-growth ratio of 3.01 and a beta of 0.51. Public Service Enterprise Group 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 earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period last year, the firm earned $1.43 earnings per share. Public Service Enterprise Group’s quarterly revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities analysts anticipate that Public Service Enterprise Group will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was 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 directly owned 285,149 shares in the company, valued at $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 9,284 shares of company stock worth $746,145 in the last 90 days. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds have recently bought and sold shares of the company. Empowered Funds LLC raised its holdings in Public Service Enterprise Group by 10.3% in the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after buying an additional 940 shares during the last quarter. Woodline Partners LP lifted its position in Public Service Enterprise Group by 40.7% in the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after acquiring an additional 12,172 shares in the last quarter. Cresset Asset Management LLC boosted its stake in Public Service Enterprise Group by 27.6% during the 2nd quarter. Cresset Asset Management LLC now owns 4,811 shares of the utilities provider’s stock valued at $405,000 after purchasing an additional 1,040 shares during the last quarter. Jump Financial LLC boosted its stake in Public Service Enterprise Group by 70.4% during the 2nd quarter. Jump Financial LLC now owns 12,706 shares of the utilities provider’s stock valued at $1,070,000 after purchasing an additional 5,250 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in Public Service Enterprise Group by 3.0% during the 2nd quarter. NewEdge Advisors LLC now owns 56,838 shares of the utilities provider’s stock valued at $4,785,000 after purchasing an additional 1,649 shares during the last quarter. Institutional investors own 73.34% of the company’s stock.

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.