Wells Fargo & Company Has Lowered Expectations for Public Service Enterprise Group (NYSE:PEG) Stock Price

Key Points

• Wells Fargo lowered its price target for PSEG from $89 to $87 but maintained an “overweight” rating, implying 18.43% potential upside from the prior close.
• Analyst sentiment remains mixed: eight analysts rate the stock a Buy and 12 rate it a Hold, resulting in a consensus “Hold” rating and average target price of $79.89.
• PSEG’s latest quarter fell short of expectations, with EPS of $1.15 versus $1.19 expected and revenue of $3.02 billion, down 6.4% year over year; the stock recently traded at $73.46.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price target lowered by equities research analysts at Wells Fargo & Company from $89.00 to $87.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's target price would indicate a potential upside of 18.43% from the company's previous close.

A number of other research analysts have also issued reports on the stock. UBS Group upped their target price on shares of Public Service Enterprise Group from $99.00 to $104.00 in a report on Thursday, July 9th. Truist Financial decreased their price target on shares of Public Service Enterprise Group from $84.00 to $78.00 and set a "hold" rating on the stock in a research note on Thursday, October 15th. Royal Bank Of Canada lowered their price target on shares of Public Service Enterprise Group from $81.00 to $76.00 in a report on Monday, October 26th. Scotiabank cut their price objective on shares of Public Service Enterprise Group from $92.00 to $77.00 and set a "sector perform" rating for the company in a research report on Wednesday, September 30th. Finally, The Goldman Sachs Group reduced their price objective on shares of Public Service Enterprise Group from $86.00 to $83.00 in a research note on Thursday, October 15th. Eight analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of "Hold" and an average price target of $79.89.

Public Service Enterprise Group Price Performance

Shares of NYSE PEG traded down $0.92 during trading on Tuesday, reaching $73.46. The company had a trading volume of 294,684 shares, compared to its average volume of 3,069,471. Public Service Enterprise Group has a twelve month low of $66.15 and a twelve month high of $87.63. The stock has a market capitalization of $36.62 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 2.48 and a beta of 0.48. The stock has a 50-day moving average price of $71.23 and a two-hundred day moving average price of $78.02. The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The utilities provider reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.04). The company had revenue of $3.02 billion during the quarter, compared to analysts' expectations of $3.19 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The firm's revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.13 earnings per share. As a group, sell-side analysts predict that Public Service Enterprise Group will post 4.38 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the transaction, the chief executive officer directly owned 279,490 shares in the company, valued at approximately $18,859,985.20. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president owned 20,970 shares in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PEG. BlackRock Inc. purchased a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $4,366,570,000. State Street Corp raised its position in shares of Public Service Enterprise Group by 1.4% in the 2nd quarter. State Street Corp now owns 29,481,434 shares of the utilities provider's stock valued at $2,392,713,000 after purchasing an additional 399,191 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter valued at approximately $1,207,400,000. Legal & General Group Plc purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter valued at approximately $554,994,000. Finally, Amundi boosted its stake in shares of Public Service Enterprise Group by 71.6% during the 2nd quarter. Amundi now owns 3,962,317 shares of the utilities provider's stock valued at $321,580,000 after buying an additional 1,653,832 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group News Roundup

Here are the key news stories impacting Public Service Enterprise Group this week:

• Positive Sentiment: Management reaffirmed full-year 2026 non-GAAP operating earnings guidance of $4.28-$4.40 per share. Although the midpoint of $4.34 is below the $4.38 consensus estimate, maintaining the outlook limits the risk of a larger forecast reduction. PSEG Announces Third Quarter 2026 Results
• Positive Sentiment: PSEG highlighted a substantial five-year regulated capital investment plan totaling $22.5 billion to $25.5 billion. Planned spending could support regulated rate-base growth and provide a foundation for longer-term earnings and cash-flow expansion. Public Service Enterprise: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Third-quarter non-GAAP operating earnings increased modestly to $1.15 per share from $1.13 a year earlier, suggesting underlying operations remained relatively stable despite weaker reported revenue. An analyst commentary piece also pointed to improved valuation as a reason for a more favorable rating. Public Service Enterprise: Not Great Results, But Better Valuation
• Negative Sentiment: PSEG reported quarterly revenue of $3.02 billion, below the $3.19 billion consensus estimate and down 6.4% year over year. Non-GAAP EPS of $1.15 also missed estimates ranging from $1.19 to $1.21, creating a near-term earnings disappointment. PSEG Misses Q3 Earnings and Revenue Estimates
• Negative Sentiment: GAAP net income declined to $376 million, or $0.76 per share, from $622 million, or $1.24 per share, in the prior-year quarter. The decline and the lower end of the 2026 guidance range may reinforce concerns about near-term operating momentum. Public Service Enterprise Group Profit Retreats in Q3

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.

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