Insider Selling: Public Service Enterprise Group (NYSE:PEG) COO Sells 3,035 Shares of Stock

Key Points

• PEG COO Kim Hanemann sold 3,035 shares on June 24 at an average price of $82.00, for proceeds of about $248,870. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• The company’s stock rose 1.0% to $83.50 in Friday trading, with PEG remaining near its 50-day and 200-day moving averages and trading well below its 52-week high of $91.25.
• Public Service Enterprise Group recently beat earnings and revenue estimates, reported $1.55 EPS on $3.85 billion in revenue, and declared a quarterly dividend of $0.67 per share, yielding about 3.2%.

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) COO Kim Hanemann sold 3,035 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the transaction, the chief operating officer 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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Stock Up 1.0%

Shares of PEG traded up $0.87 during mid-day trading on Friday, reaching $83.50. The company had a trading volume of 3,091,990 shares, compared to its average volume of 2,909,181. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.75 and a current ratio of 0.97. The company has a market capitalization of $41.61 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 3.08 and a beta of 0.51. The firm has a 50-day moving average price of $79.31 and a 200 day moving average price of $80.79. Public Service Enterprise Group Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The firm's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the company earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, sell-side analysts forecast that Public Service Enterprise Group Incorporated will post 4.37 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. Public Service Enterprise Group's dividend payout ratio (DPR) is presently 59.29%.

Analyst Ratings Changes

PEG has been the topic of a number of analyst reports. Scotiabank reiterated a "sector perform" rating and issued a $92.00 price target on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Barclays lifted their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. Evercore upgraded shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price target on the stock in a report on Thursday, March 5th. Finally, Weiss Ratings downgraded shares of Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $93.19.

Institutional Trading of Public Service Enterprise Group

Large investors have recently made changes to their positions in the stock. Colonial Trust Co SC lifted its position in Public Service Enterprise Group by 26.8% during the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider's stock valued at $48,000 after purchasing an additional 121 shares during the period. JPL Wealth Management LLC raised its stake in Public Service Enterprise Group by 0.4% during the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider's stock valued at $2,734,000 after buying an additional 122 shares during the last quarter. Strategic Investment Advisors MI raised its stake in Public Service Enterprise Group by 0.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider's stock valued at $1,331,000 after buying an additional 127 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in shares of Public Service Enterprise Group by 3.3% during the 4th quarter. Simplicity Wealth LLC now owns 3,990 shares of the utilities provider's stock valued at $320,000 after buying an additional 129 shares during the period. Finally, Westfuller Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 7.3% during the 1st quarter. Westfuller Advisors LLC now owns 1,891 shares of the utilities provider's stock valued at $153,000 after buying an additional 129 shares during the period. 73.34% of the stock is currently owned by institutional investors.

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.

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