Public Service Enterprise Group (NYSE:PEG) COO Kim Hanemann Sells 3,035 Shares

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

Public Service Enterprise Group Price Performance

PEG stock opened at $83.50 on Friday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $41.61 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 3.11 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 52-week low of $76.05 and a 52-week high of $91.25. The stock’s fifty day simple moving average is $79.36 and its 200-day simple moving average is $80.81.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data 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. 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%. Public Service Enterprise Group’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio is presently 59.29%.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently bought and sold shares of the stock. Western Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at about $162,000. DV Trading LLC bought a new position in Public Service Enterprise Group during the first quarter worth about $243,000. Glenmede Trust Co. NA boosted its holdings in Public Service Enterprise Group by 39.4% during the first quarter. Glenmede Trust Co. NA now owns 64,755 shares of the utilities provider’s stock valued at $5,242,000 after purchasing an additional 18,305 shares in the last quarter. Groupama Asset Managment grew its stake in shares of Public Service Enterprise Group by 11.7% in the 1st quarter. Groupama Asset Managment now owns 13,983 shares of the utilities provider’s stock valued at $1,132,000 after purchasing an additional 1,462 shares during the period. Finally, GKV Capital Management Co. Inc. bought a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at approximately $156,000. 73.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on PEG. Weiss Ratings cut Public Service Enterprise Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial reduced their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. raised their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.