Public Service Enterprise Group (NYSE:PEG) Price Target Cut to $91.00 by Analysts at Wells Fargo & Company

Public Service Enterprise Group (NYSE:PEG) had its price target cut by Wells Fargo & Company from $97.00 to $91.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other brokerages have also commented on PEG. Jefferies Financial Group decreased their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating on the stock in a research note on Monday. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a research note on Monday, April 13th. Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research note on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 price objective for the company. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Truist Financial boosted their target price on Public Service Enterprise Group from $88.00 to $90.00 and gave the stock a “hold” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.25.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $79.61 on Wednesday. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group has a 52-week low of $76.05 and a 52-week high of $91.25. The company has a 50-day simple moving average of $79.63 and a 200-day simple moving average of $80.85. The company has a market capitalization of $39.67 billion, a PE ratio of 17.61, a P/E/G ratio of 2.91 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts predict that Public Service Enterprise Group will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Insider Buying and Selling

In other news, COO Kim C. Hanemann sold 3,035 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was 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 directly owned 98,815 shares of the company’s stock, valued at $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 available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total value of $167,702.33. Following the completion of the sale, the chief executive officer owned 285,149 shares in the company, valued at $22,957,345.99. This represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,284 shares of company stock worth $746,145. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Simplicity Wealth LLC boosted its holdings in Public Service Enterprise Group by 3.3% in the fourth quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 129 shares during the last quarter. Westfuller Advisors LLC increased its stake 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 acquiring an additional 129 shares during the last quarter. Key Financial Inc increased its stake 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 acquiring an additional 133 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Public Service Enterprise Group by 4.3% in the 2nd quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 134 shares during the period. Finally, CFS Investment Advisory Services LLC raised its holdings in shares of Public Service Enterprise Group by 1.0% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,296 shares of the utilities provider’s stock worth $1,068,000 after purchasing an additional 138 shares during the period. Hedge funds and other institutional investors 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.