Public Service Enterprise Group (NYSE:PEG - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.
Several other research analysts also recently weighed in on the company. LADENBURG THALM/SH SH downgraded Public Service Enterprise Group from a "buy" rating to a "neutral" rating and lowered their target price for the company from $87.50 to $84.50 in a research note on Friday, March 13th. BMO Capital Markets lifted their target price on Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a research note on Monday, April 13th. Argus upgraded Public Service Enterprise Group to a "strong-buy" rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lifted their target price on 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. Finally, Wells Fargo & Company lifted 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. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $93.42.
Read Our Latest Stock Report on PEG
Public Service Enterprise Group Trading Down 0.9%
PEG opened at $77.12 on Friday. The firm has a market cap of $38.43 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 2.94 and a beta of 0.53. Public Service Enterprise Group has a 52 week low of $76.00 and a 52 week high of $91.25. The business's 50 day moving average is $81.94 and its two-hundred day moving average is $81.57. The company has a quick ratio of 0.60, a current ratio of 0.97 and a debt-to-equity ratio of 1.31.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.30% and a net margin of 17.69%.The firm's revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts predict that Public Service Enterprise Group will post 4.36 EPS for the current year.
Insider Buying and Selling
In related news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $81.21, for a total value of $169,160.43. Following the sale, the chief executive officer directly owned 289,315 shares in the company, valued at $23,495,271.15. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 4,700 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the sale, the senior vice president owned 28,481 shares in the company, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 10,949 shares of company stock worth $902,747. Company insiders own 0.19% of the company's stock.
Institutional Trading of Public Service Enterprise Group
A number of institutional investors have recently modified their holdings of PEG. Norges Bank purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $552,280,000. Bank of America Corp DE boosted its position in Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider's stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares in the last quarter. Vanguard Group Inc. boosted its position in Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock worth $5,420,155,000 after purchasing an additional 2,189,951 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in Public Service Enterprise Group by 174.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider's stock worth $225,704,000 after purchasing an additional 1,788,449 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Public Service Enterprise Group by 40.0% during the fourth quarter. Van ECK Associates Corp now owns 2,708,385 shares of the utilities provider's stock worth $217,483,000 after purchasing an additional 774,256 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.
About Public Service Enterprise Group
(
Get Free Report)
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.
Further Reading
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