Public Service Enterprise Group (NYSE:PEG) CEO Ralph Larossa Sells 2,083 Shares of Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $81.24, for a total value of $169,222.92. Following the completion of the sale, the chief executive officer directly owned 291,398 shares in the company, valued at approximately $23,673,173.52. This represents a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Stock Performance

Shares of NYSE PEG opened at $81.79 on Friday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80. The stock has a 50 day moving average price of $82.86 and a 200 day moving average price of $81.78. The stock has a market capitalization of $40.79 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 2.64 and a beta of 0.58. Public Service Enterprise Group Incorporated has a 52 week low of $74.67 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the firm earned $0.84 EPS. The business’s quarterly revenue was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts predict that Public Service Enterprise Group Incorporated will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.3%. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is currently 63.51%.

Hedge Funds Weigh In On Public Service Enterprise Group

Large investors have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth about $25,000. Chapman Financial Group LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at about $25,000. Cedar Mountain Advisors LLC bought a new position in Public Service Enterprise Group in the 3rd quarter valued at about $27,000. Quest 10 Wealth Builders Inc. lifted its position in 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 acquiring an additional 248 shares during the last quarter. Finally, Bayban acquired a new stake in Public Service Enterprise Group during the fourth quarter worth approximately $33,000. 73.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PEG has been the subject of a number of analyst reports. LADENBURG THALM/SH SH downgraded shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $87.50 to $84.50 in a research report on Friday, March 13th. Barclays upped their target price on shares of 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 cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. UBS Group lowered their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Finally, Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective on the stock in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.88.

About Public Service Enterprise Group

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.