Public Service Enterprise Group (NYSE:PEG) Now Covered by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a hold rating and a $91.00 price target on the utilities provider’s stock.

PEG has been the subject of a number of other reports. Evercore raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price objective for the company in a research report on Thursday, March 5th. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a “market perform” rating in a research report on Monday, April 13th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. 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, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $93.25.

Public Service Enterprise Group Trading Down 2.7%

NYSE PEG opened at $78.57 on Tuesday. The company has a market cap of $39.19 billion, a PE ratio of 18.62, a PEG ratio of 2.63 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 12 month low of $76.00 and a 12 month high of $91.25. The stock has a 50 day moving average of $83.09 and a 200-day moving average of $81.75.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The company had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the firm posted $0.84 EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.67 per share. This is an increase 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 3.4%. The ex-dividend date of this dividend was Tuesday, March 10th. Public Service Enterprise Group’s payout ratio is 63.51%.

Insiders Place Their Bets

In other 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 sale, the senior vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $81.24, for a total value of $169,222.92. Following the sale, the chief executive officer directly owned 291,398 shares of the company’s stock, valued at $23,673,173.52. This represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,866 shares of company stock valued at $733,587 in the last three months. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Public Service Enterprise Group during the third quarter worth $27,000. Quest 10 Wealth Builders Inc. raised its stake in Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 248 shares in the last quarter. Bayban acquired a new position in Public Service Enterprise Group in the fourth quarter valued at about $33,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Public Service Enterprise Group in the third quarter valued at about $38,000. Institutional investors and hedge funds 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.