Public Service Enterprise Group (NYSE:PEG) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Public Service Enterprise Group to “sell” from “hold.” Despite the downgrade, the broader analyst consensus remains “hold,” with an average price target of $90.23.
• PEG shares opened at $76.08, near the lower end of their 52-week range of $74.20 to $87.63. The company’s latest quarterly results beat earnings expectations, reporting $0.86 per share versus the $0.80 consensus, though revenue fell 8.9% year over year.
• Institutional ownership remains substantial at 73.34%, with major investors including BlackRock, Norges Bank and Legal & General adding or initiating positions. Company insiders sold 17,284 shares worth approximately $1.33 million over the past 90 days.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other analysts also recently weighed in on PEG. Citigroup reduced their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 5th. Jefferies Financial Group dropped their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a research note on Monday, July 20th. Weiss Ratings cut shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating for the company in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada assumed coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $90.23.

Public Service Enterprise Group Trading Up 0.2%

NYSE PEG opened at $76.08 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group has a twelve month low of $74.20 and a twelve month high of $87.63. The firm has a market capitalization of $37.92 billion, a PE ratio of 18.93, a P/E/G ratio of 2.86 and a beta of 0.51. The stock's 50 day moving average is $79.11 and its 200 day moving average is $80.58.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm's revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts forecast that Public Service Enterprise Group will post 4.36 earnings per share for the current fiscal year.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 2,083 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $76.47, for a total transaction of $159,287.01. Following the completion of the sale, the chief executive officer owned 283,656 shares of the company's stock, valued at $21,691,174.32. This trade represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares of the company's stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,284 shares of company stock valued at $1,332,751 over the last 90 days. Corporate insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PEG. BlackRock Inc. purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at $4,366,570,000. Norges Bank purchased a new position in Public Service Enterprise Group in the 4th quarter worth about $552,280,000. Legal & General Group Plc bought a new position in Public Service Enterprise Group during the 2nd quarter valued at about $554,994,000. Bank of America Corp DE lifted its stake in Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock valued at $1,476,230,000 after acquiring an additional 3,469,886 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $221,632,000. Hedge funds and other institutional investors own 73.34% of the company's stock.

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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