Truist Financial Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $88.00

Key Points

• Truist Financial cut its price target on Public Service Enterprise Group from $91 to $88 and kept a hold rating, implying about 15% upside from the prior close.
• PEG’s latest earnings beat expectations, with EPS of $1.55 versus $1.44 expected and revenue of $3.85 billion, up 19.4% year over year. The company also reaffirmed FY 2026 guidance of 4.280–4.400 EPS.
• The stock traded near its 52-week low at $76.37, while insider selling was noted, including trades by the CEO and a senior vice president. Despite that, institutional ownership remains high at 73.34%.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price objective decreased by stock analysts at Truist Financial from $91.00 to $88.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "hold" rating on the utilities provider's stock. Truist Financial's price target indicates a potential upside of 15.24% from the stock's previous close.

A number of other research firms have also issued reports on PEG. Scotiabank reiterated a "sector perform" rating and set a $92.00 price objective on shares of Public Service Enterprise Group in a research note on Thursday, February 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Friday, March 27th. Barclays boosted their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Jefferies Financial Group cut Public Service Enterprise Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $90.00 to $89.00 in a research report on Wednesday, April 15th. Finally, LADENBURG THALM/SH SH cut Public Service Enterprise Group from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $87.50 to $84.50 in a research report on Friday, March 13th. 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $93.19.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $0.08 during midday trading on Monday, reaching $76.37. 517,924 shares of the company traded hands, compared to its average volume of 2,893,332. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group has a 12 month low of $76.09 and a 12 month high of $91.25. The firm has a market capitalization of $38.05 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 2.88 and a beta of 0.53. The firm's fifty day moving average price is $81.04 and its two-hundred day moving average price is $81.32.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. Public Service Enterprise Group had a return on equity of 12.30% and a net margin of 17.69%.The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company posted $1.43 EPS. The firm's revenue for the quarter was up 19.4% 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, equities analysts expect that Public Service Enterprise Group will post 4.36 earnings per share for the current year.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,700 shares of the business's stock in a transaction dated Tuesday, March 3rd. The stock was 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 directly owned 28,481 shares in the company, valued at $2,363,923. The trade was a 14.16% 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. Also, CEO Ralph A. Larossa sold 2,083 shares of the company's 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 completion of the transaction, the chief executive officer owned 289,315 shares of the company's stock, valued at $23,495,271.15. This trade represents a 0.71% 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. Over the last 90 days, insiders have sold 10,949 shares of company stock valued at $902,747. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Public Service Enterprise Group by 3.4% in the 4th 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. State Street Corp boosted its holdings in shares of Public Service Enterprise Group by 2.8% in the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider's stock worth $2,277,404,000 after purchasing an additional 762,591 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Public Service Enterprise Group by 1.4% in the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider's stock worth $1,483,366,000 after purchasing an additional 236,794 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Public Service Enterprise Group by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider's stock worth $1,021,475,000 after purchasing an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 8.1% in the 3rd quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider's stock worth $722,546,000 after purchasing an additional 648,140 shares in the last quarter. 73.34% of the stock is currently 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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