Short Interest in Public Service Enterprise Group Incorporated (NYSE:PEG) Expands By 37.7%

Public Service Enterprise Group Incorporated (NYSE:PEG) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 10,240,360 shares, a growth of 37.7% from the February 26th total of 7,438,492 shares. Based on an average daily volume of 2,901,078 shares, the short-interest ratio is presently 3.5 days. Approximately 2.1% of the shares of the company are sold short.

Public Service Enterprise Group Trading Up 0.8%

Shares of PEG stock opened at $81.38 on Tuesday. The company has a market capitalization of $40.59 billion, a P/E ratio of 19.28, a price-to-earnings-growth ratio of 2.63 and a beta of 0.60. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. The business’s 50 day moving average is $82.75 and its two-hundred day moving average is $81.80. Public Service Enterprise Group has a twelve month low of $74.67 and a twelve month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results 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. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.68 billion. During the same period last year, the company earned $0.84 earnings per share. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 10th will be issued a $0.67 dividend. 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. This represents a $2.68 annualized dividend and a dividend yield of 3.3%. Public Service Enterprise Group’s payout ratio is presently 63.51%.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. The trade was a 14.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the completion of the sale, the chief executive officer directly owned 292,889 shares of the company’s stock, valued at approximately $24,503,093.74. This trade represents a 0.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PEG. Hsbc Holdings PLC lifted its position in Public Service Enterprise Group by 47.6% in the fourth quarter. Hsbc Holdings PLC now owns 1,472,165 shares of the utilities provider’s stock valued at $118,305,000 after purchasing an additional 474,484 shares during the period. Cornerstone Planning LLC acquired a new position in Public Service Enterprise Group during the 4th quarter worth approximately $856,000. Rockefeller Capital Management L.P. increased its position in Public Service Enterprise Group by 45.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 339,450 shares of the utilities provider’s stock worth $27,258,000 after purchasing an additional 105,526 shares during the period. World Investment Advisors raised its stake in shares of Public Service Enterprise Group by 36.5% during the 4th quarter. World Investment Advisors now owns 82,943 shares of the utilities provider’s stock worth $6,660,000 after buying an additional 22,193 shares in the last quarter. Finally, Meadowbrook Advisors Group LLC purchased a new position in shares of Public Service Enterprise Group during the 4th quarter worth approximately $269,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PEG shares. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. Wells Fargo & Company upped their price target on shares of Public Service Enterprise Group from $92.00 to $94.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. Barclays increased their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Friday. Finally, Wall Street Zen lowered shares of Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $92.88.

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.