Public Service Enterprise Group (NYSE:PEG) Price Target Lowered to $88.00 at Morgan Stanley

Public Service Enterprise Group (NYSE:PEG) had its target price lowered by Morgan Stanley from $91.00 to $88.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 25.58% from the company’s current price.

Other research analysts have also issued research reports about the stock. Truist Financial cut their price objective on shares of Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, August 13th. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, August 5th. Citigroup lowered their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $89.23.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded down $0.91 during trading hours on Friday, reaching $70.08. 1,246,294 shares of the company’s stock were exchanged, compared to its average volume of 2,894,681. Public Service Enterprise Group has a fifty-two week low of $69.91 and a fifty-two week high of $87.63. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $34.93 billion, a P/E ratio of 17.43, a P/E/G ratio of 2.65 and a beta of 0.50. The business has a fifty day moving average price of $75.55 and a 200-day moving average price of $78.83.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. Public Service Enterprise Group’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Analysts predict that Public Service Enterprise Group will post 4.36 EPS for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other news, COO Kim Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares in the company, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph LaRossa sold 2,083 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares in the company, valued at $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 15,201 shares of company stock valued at $1,172,339. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth $4,366,570,000. Bank of America Corp DE acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $1,207,400,000. Geode Capital Management LLC grew its holdings in Public Service Enterprise Group by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock worth $1,021,475,000 after acquiring an additional 114,351 shares during the last quarter. Norges Bank bought a new stake in Public Service Enterprise Group during the 4th quarter worth approximately $552,280,000. Finally, Legal & General Group Plc acquired a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $554,994,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.