Public Service Enterprise Group (NYSE:PEG) SVP Richard Thigpen Sells 8,000 Shares

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard Thigpen sold 8,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the senior vice president owned 20,970 shares of the company’s stock, valued at approximately $1,563,523.20. This represents a 27.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Public Service Enterprise Group Trading Up 0.6%

Shares of Public Service Enterprise Group stock opened at $75.68 on Thursday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. The company has a market capitalization of $37.72 billion, a P/E ratio of 18.83, a PEG ratio of 2.83 and a beta of 0.51. Public Service Enterprise Group Incorporated has a 1 year low of $74.20 and a 1 year high of $88.65. The company’s fifty day moving average is $79.22 and its two-hundred day moving average is $80.63.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The business’s revenue was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.67%.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of large investors have recently modified their holdings of the business. Simplicity Wealth LLC increased its stake in Public Service Enterprise Group by 3.3% in the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after purchasing an additional 129 shares in the last quarter. Westfuller Advisors LLC boosted its position in Public Service Enterprise Group by 7.3% during the first quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider’s stock worth $153,000 after purchasing an additional 129 shares in the last quarter. Key Financial Inc boosted its position in Public Service Enterprise Group by 2.6% during the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 133 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in Public Service Enterprise Group by 4.3% in the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock valued at $272,000 after purchasing an additional 134 shares during the last quarter. Finally, CFS Investment Advisory Services LLC grew its holdings in Public Service Enterprise Group by 1.0% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock valued at $1,068,000 after purchasing an additional 138 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup lowered their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 5th. Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Truist Financial increased their price target on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a report on Thursday, July 16th. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective on the stock. Finally, Jefferies Financial Group dropped their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.63.

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.