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

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 289,315 shares of the company’s stock, valued at $23,495,271.15. This represents a 0.71% decrease in their ownership of the stock. 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

Shares of PEG traded down $0.39 during mid-day trading on Tuesday, reaching $80.06. The stock had a trading volume of 1,838,480 shares, compared to its average volume of 2,820,882. 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 business has a fifty day moving average of $82.36 and a 200 day moving average of $81.69. Public Service Enterprise Group Incorporated has a 12 month low of $76.00 and a 12 month high of $91.25. The firm has a market cap of $39.93 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 3.02 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last issued 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 $1.47 by $0.08. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.3%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.51%.

Wall Street Analysts Forecast Growth

PEG has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Evercore raised Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Thursday, March 5th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Truist Financial began coverage on Public Service Enterprise Group in a research report on Tuesday, April 21st. They set a “hold” rating and a $91.00 price objective on the stock. Finally, Barclays boosted their target price on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average price target of $93.19.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Checchi Capital Advisers LLC lifted its position in shares of Public Service Enterprise Group by 11.2% in the first quarter. Checchi Capital Advisers LLC now owns 7,400 shares of the utilities provider’s stock valued at $599,000 after acquiring an additional 744 shares in the last quarter. ABC Arbitrage SA purchased a new stake in Public Service Enterprise Group during the first quarter valued at approximately $358,000. Retirement Planning Group LLC lifted its position in Public Service Enterprise Group by 6.8% during the first quarter. Retirement Planning Group LLC now owns 4,082 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 260 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Public Service Enterprise Group by 17.2% during the first quarter. Chicago Partners Investment Group LLC now owns 7,549 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Arbejdsmarkedets Tillaegspension raised its holdings in shares of Public Service Enterprise Group by 7.8% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 315,957 shares of the utilities provider’s stock worth $25,577,000 after buying an additional 22,765 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.