Truist Financial Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $84.00

Key Points

• Truist Financial lowered Public Service Enterprise Group’s price target from $90 to $84 while maintaining a “hold” rating, implying about 10.6% upside from the stock’s $75.96 price.
• Analyst sentiment remains cautious: PEG has an overall “hold” consensus, with a $90.23 average price target. Citigroup and Jefferies also recently cut their targets, while Wells Fargo maintained an “overweight” rating.
• Quarterly results were mixed: earnings of $0.86 per share beat estimates of $0.80, but revenue fell 8.9% year over year to $2.55 billion, below expectations. Company insiders have sold $1.33 million of stock over the past three months.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price objective dropped by analysts at Truist Financial from $90.00 to $84.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the utilities provider's stock. Truist Financial's price objective would suggest a potential upside of 10.59% from the stock's current price.

A number of other equities research analysts also recently issued reports on PEG. Citigroup lowered their price target on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating on the stock in a report on Wednesday, August 5th. Wells Fargo & Company reduced their price objective 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. Jefferies Financial Group decreased their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a report on Monday, July 20th. 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. Finally, Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a report on Thursday, July 2nd. They issued a "sector perform" rating and a $81.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $90.23.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded up $0.09 during trading hours on Thursday, reaching $75.96. The stock had a trading volume of 752,977 shares, compared to its average volume of 2,917,649. The stock has a market cap of $37.86 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.83 and a beta of 0.51. The stock has a 50 day simple moving average of $79.22 and a 200 day simple moving average of $80.63. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.67 and a current ratio of 0.88. Public Service Enterprise Group has a 12-month low of $74.20 and a 12-month high of $87.63.

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 EPS for the quarter, beating analysts' consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The firm had revenue of $2.55 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The business's revenue for the quarter was down 8.9% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, research analysts forecast that Public Service Enterprise Group will post 4.37 EPS for the current fiscal year.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 2,083 shares of Public Service Enterprise Group 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 directly owned 283,656 shares in the company, valued at $21,691,174.32. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 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 directly owned 98,815 shares of the company's stock, valued at approximately $8,102,830. This represents a 2.98% 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. Over the last three months, insiders have sold 17,284 shares of company stock worth $1,332,751. Insiders own 0.19% of the company's stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the stock. Entropy Technologies LP grew its stake in shares of Public Service Enterprise Group by 115.6% in the fourth quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider's stock worth $1,985,000 after acquiring an additional 13,253 shares during the last quarter. Kestra Advisory Services LLC boosted its stake in Public Service Enterprise Group by 26.3% in the 1st quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider's stock worth $5,593,000 after purchasing an additional 14,406 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Public Service Enterprise Group by 120.0% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider's stock worth $5,108,000 after purchasing an additional 34,415 shares in the last quarter. Elevation Point Wealth Partners LLC grew its position in Public Service Enterprise Group by 135.2% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider's stock valued at $1,756,000 after purchasing an additional 12,468 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC grew its position in Public Service Enterprise Group by 38.0% during the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider's stock valued at $156,305,000 after purchasing an additional 536,363 shares during the last quarter. 73.34% of the stock is 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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