Public Service Enterprise Group (NYSE:PEG) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised its price target on Public Service Enterprise Group to $90 from $88 while keeping a hold rating, implying about 13.6% upside from the prior close.
• Analyst sentiment is mixed but generally constructive: the stock has an average Moderate Buy rating and an average target price of $92.46, with several firms recently lifting targets even as some maintain hold or sector-perform views.
• PEG reported Q1 earnings and revenue ahead of estimates, with EPS of $1.55 versus $1.44 expected and revenue of $3.85 billion versus $3.35 billion expected; however, the stock was down 0.8% to about $79.25 in Thursday trading.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price target upped by investment analysts at Truist Financial from $88.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a "hold" rating on the utilities provider's stock. Truist Financial's price target would indicate a potential upside of 13.56% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the stock a "market perform" rating in a report on Monday, April 13th. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Jefferies Financial Group downgraded Public Service Enterprise Group from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $90.00 to $89.00 in a research note on Wednesday, April 15th. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Finally, Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a "sector perform" rating and a $81.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $92.46.

Public Service Enterprise Group Stock Down 0.8%

NYSE:PEG traded down $0.63 during mid-day trading on Thursday, hitting $79.25. The company had a trading volume of 809,822 shares, compared to its average volume of 2,913,789. The business has a fifty day simple moving average of $79.54 and a 200-day simple moving average of $80.92. The firm has a market capitalization of $39.49 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 3.03 and a beta of 0.51. Public Service Enterprise Group has a 1 year low of $76.05 and a 1 year high of $91.25. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.43 earnings per share. 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 4.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of the company's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $80.51, for a total transaction of $167,702.33. Following the completion of the sale, the chief executive officer directly owned 285,149 shares of the company's stock, valued at approximately $22,957,345.99. This represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the company's 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 completion of the sale, the chief operating officer owned 98,815 shares of the company's stock, valued at approximately $8,102,830. This trade represents a 2.98% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 9,284 shares of company stock valued at $746,145. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently made changes to their positions in PEG. Strategic Investment Advisors MI lifted its position in shares of Public Service Enterprise Group by 0.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider's stock worth $1,331,000 after purchasing an additional 127 shares during the period. Simplicity Wealth LLC lifted its holdings in Public Service Enterprise Group by 3.3% in the fourth 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. Westfuller Advisors LLC lifted its holdings in Public Service Enterprise Group by 7.3% in the first 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. Key Financial Inc boosted its position in Public Service Enterprise Group by 2.6% during the fourth quarter. Key Financial Inc now owns 5,221 shares of the utilities provider's stock valued at $419,000 after acquiring an additional 133 shares during the last quarter. Finally, Benjamin Edwards Inc. boosted its position in Public Service Enterprise Group by 4.3% during the second quarter. Benjamin Edwards Inc. now owns 3,231 shares of the utilities provider's stock valued at $272,000 after acquiring an additional 134 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other 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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