Public Service Enterprise Group (NYSE:PEG) Hits New 12-Month Low - Here's What Happened

Key Points

• Public Service Enterprise Group hit a new 52-week low, trading as low as $76.50 and ending the session slightly above that level, down about 1.7% on the day.
• Despite the weak share price, the company’s latest earnings beat expectations: it reported $1.55 EPS versus the $1.44 consensus and generated $3.85 billion in revenue, well above estimates.
• PEG also announced a quarterly dividend of $0.67 per share, equal to a 3.5% annualized yield, while analysts currently rate the stock Moderate Buy with an average price target of $93.42.

Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) shares reached a new 52-week low on Friday . The stock traded as low as $76.50 and last traded at $76.6180, with a volume of 674737 shares traded. The stock had previously closed at $77.75.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PEG shares. Wells Fargo & Company boosted their price objective on shares of Public Service Enterprise Group from $96.00 to $97.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Scotiabank reaffirmed a "sector perform" rating and set a $92.00 target price on shares of Public Service Enterprise Group in a report on Thursday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Thursday, March 12th. Weiss Ratings reissued a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.42.

Public Service Enterprise Group Trading Down 1.7%

The company has a market cap of $38.08 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.91 and a beta of 0.53. The business's fifty day moving average price is $81.18 and its 200 day moving average price is $81.37. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.11. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. Public Service Enterprise Group's revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm 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. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 9th. Public Service Enterprise Group's payout ratio is 59.29%.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares of the company's stock, valued at $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the transaction, the chief executive officer directly owned 289,315 shares of the company's stock, valued at $23,495,271.15. This represents a 0.71% decrease in their position. 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 quarter, insiders have sold 10,949 shares of company stock worth $902,747. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB increased its holdings in shares of Public Service Enterprise Group by 28.6% in the 4th quarter. Nordea Investment Management AB now owns 2,266,925 shares of the utilities provider's stock worth $182,759,000 after buying an additional 504,632 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Public Service Enterprise Group by 4.6% in the third quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider's stock worth $74,609,000 after buying an additional 38,949 shares during the last quarter. Greenland Capital Management LP lifted its holdings in Public Service Enterprise Group by 238.9% during the third quarter. Greenland Capital Management LP now owns 69,734 shares of the utilities provider's stock valued at $5,820,000 after purchasing an additional 49,157 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Public Service Enterprise Group by 38.7% in the third quarter. PNC Financial Services Group Inc. now owns 905,489 shares of the utilities provider's stock worth $75,572,000 after purchasing an additional 252,718 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Public Service Enterprise Group by 13.0% in the third quarter. New York State Common Retirement Fund now owns 314,668 shares of the utilities provider's stock worth $26,262,000 after purchasing an additional 36,100 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

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.

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