JPMorgan Chase & Co. Issues Positive Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its target price upped by JPMorgan Chase & Co. from $85.00 to $90.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

PEG has been the subject of several other research reports. Wells Fargo & Company boosted their target price on Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Barclays raised their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, March 5th. Scotiabank restated a “sector perform” rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research report on Thursday, February 26th. Wall Street Zen cut shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday, March 7th. Finally, UBS Group decreased their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.12.

Public Service Enterprise Group Trading Up 0.2%

Shares of PEG stock opened at $82.45 on Thursday. Public Service Enterprise Group has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The stock’s fifty day moving average price is $82.02 and its two-hundred day moving average price is $81.79. 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 company has a market cap of $41.12 billion, a PE ratio of 19.54, a P/E/G ratio of 2.68 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data 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. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.Public Service Enterprise Group’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.84 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 will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 10th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s dividend payout ratio is presently 63.51%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $83.66, for a total transaction of $174,263.78. Following the transaction, the chief executive officer directly owned 292,889 shares of the company’s stock, valued at $24,503,093.74. 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 available through this link. Also, SVP Richard T. Thigpen sold 4,700 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president directly owned 28,481 shares in the company, valued at $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several institutional investors and hedge funds have recently made changes to their positions in PEG. HM Payson & Co. increased its stake in Public Service Enterprise Group by 3.3% in the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after buying an additional 120 shares during the last quarter. Rossby Financial LCC raised its stake in shares of Public Service Enterprise Group by 5.5% in the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after buying an additional 121 shares during the period. Colonial Trust Co SC raised its stake in Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 121 shares during the period. JPL Wealth Management LLC raised its position in shares of Public Service Enterprise Group by 0.4% in the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after purchasing an additional 122 shares during the period. Finally, Transcend Capital Advisors LLC lifted its position in shares of Public Service Enterprise Group by 2.6% during the third quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock worth $410,000 after acquiring an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.