BMO Capital Markets Issues Positive Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price objective increased by BMO Capital Markets from $90.00 to $91.00 in a research note published on Monday,Benzinga reports. BMO Capital Markets currently has a market perform rating on the utilities provider’s stock.

Several other equities research analysts also recently issued reports on PEG. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Wall Street Zen downgraded shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. raised their target price on Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. LADENBURG THALM/SH SH cut Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Finally, UBS Group reduced their target price on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.50.

Public Service Enterprise Group Trading Down 2.3%

Shares of Public Service Enterprise Group stock opened at $81.18 on Monday. The company’s fifty day simple moving average is $83.10 and its 200-day simple moving average is $81.81. The company has a market cap of $40.49 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.70 and a beta of 0.58. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. Public Service Enterprise Group has a 1 year low of $76.00 and a 1 year high of $91.25.

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 (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. Public Service Enterprise Group’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.63. 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%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $81.24, for a total value of $169,222.92. Following the transaction, the chief executive officer directly owned 291,398 shares of the company’s stock, valued at approximately $23,673,173.52. The trade was a 0.71% 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 three months, insiders have sold 8,866 shares of company stock valued at $733,587. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

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

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.