Public Service Enterprise Group (NYSE:PEG) Rating Increased to Hold 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 report issued on Saturday.

A number of other brokerages have also recently issued reports on PEG. JPMorgan Chase & Co. lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Jefferies Financial Group cut shares of 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. Argus raised shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Scotiabank reissued a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.42.

Public Service Enterprise Group Stock Down 0.9%

NYSE PEG opened at $77.12 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.60 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group has a 1-year low of $76.00 and a 1-year high of $91.25. The company has a 50 day moving average of $81.94 and a 200-day moving average of $81.57. The company has a market cap of $38.43 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.91 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. The company 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 firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 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 3.5%. The ex-dividend date of this dividend is Tuesday, June 9th. Public Service Enterprise Group’s payout ratio is presently 59.29%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the sale, the chief executive officer directly owned 289,315 shares in the company, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 10,949 shares of company stock worth $902,747. Insiders own 0.19% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently modified their holdings of PEG. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Cedar Mountain Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $27,000. Quest 10 Wealth Builders Inc. grew its stake in shares of Public Service Enterprise Group by 250.5% during the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after buying an additional 248 shares during the last quarter. Bayban bought a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $33,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Public Service Enterprise Group during the third quarter worth $38,000. 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.