Public Service Enterprise Group (NYSE:PEG) Stock Price Target Lowered at Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered PSEG’s price target from $81 to $76, implying roughly 5% upside from the stock’s $72.36 trading price. The analyst maintained a broader consensus “Hold” view, with an average target of $82.89.
• PSEG shares rose 0.4% to $72.36, remaining closer to their one-year low of $66.15 than their high of $87.63. The stock has a market capitalization of approximately $36.1 billion.
• The company beat quarterly EPS expectations, reporting $0.86 versus the $0.80 consensus, although revenue declined 8.9% year over year to $2.55 billion. Insiders have sold 12,166 shares worth about $896,000 over the past 90 days, while institutions own 73.34% of the stock.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price objective lowered by investment analysts at Royal Bank Of Canada from $81.00 to $76.00 in a note issued to investors on Monday. Royal Bank Of Canada's price target would indicate a potential upside of 5.02% from the company's current price.

A number of other research firms also recently weighed in on PEG. HSBC assumed coverage on shares of Public Service Enterprise Group in a report on Thursday, October 22nd. They issued a "hold" rating and a $72.50 target price on the stock. Wells Fargo & Company cut their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 5th. Morgan Stanley lowered their target price on shares of Public Service Enterprise Group from $88.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, October 21st. Bank of America dropped their price objective on shares of Public Service Enterprise Group from $87.00 to $85.00 and set a "buy" rating on the stock in a report on Tuesday. Finally, Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 26th. Seven equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $82.89.

Public Service Enterprise Group Stock Up 0.4%

PEG traded up $0.26 during trading on Monday, reaching $72.36. The stock had a trading volume of 411,579 shares, compared to its average volume of 3,054,036. The stock's 50 day moving average is $71.45 and its two-hundred day moving average is $78.17. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $36.07 billion, a price-to-earnings ratio of 18.00, a P/E/G ratio of 2.70 and a beta of 0.50. Public Service Enterprise Group has a one year low of $66.15 and a one year high of $87.63.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The business's quarterly revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts expect that Public Service Enterprise Group will post 4.38 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Richard Thigpen sold 8,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares in the company, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph LaRossa sold 2,083 shares of the company's stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $67.48, for a total value of $140,560.84. Following the transaction, the chief executive officer owned 279,490 shares in the company, valued at $18,859,985.20. This trade represents a 0.74% 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. Insiders have sold a total of 12,166 shares of company stock valued at $896,328 in the last 90 days. Insiders own 0.19% of the company's stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently modified their holdings of the stock. Kestra Advisory Services LLC raised its holdings in Public Service Enterprise Group by 26.3% during the first quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider's stock worth $5,593,000 after purchasing an additional 14,406 shares in the last quarter. Elevation Point Wealth Partners LLC raised its holdings in Public Service Enterprise Group by 135.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider's stock worth $1,756,000 after purchasing an additional 12,468 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in shares of Public Service Enterprise Group by 120.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider's stock valued at $5,108,000 after buying an additional 34,415 shares during the period. Commerce Bank acquired a new stake in Public Service Enterprise Group in the second quarter valued at $3,934,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Public Service Enterprise Group by 66.2% in the 1st quarter. Quantinno Capital Management LP now owns 359,477 shares of the utilities provider's stock valued at $29,100,000 after purchasing an additional 143,148 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated NYSE: PEG, commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG's principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.