Ralph Larossa Sells 2,083 Shares of Public Service Enterprise Group (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) CEO Ralph Larossa sold 2,083 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $77.01, for a total transaction of $160,411.83. Following the sale, the chief executive officer directly owned 287,232 shares of the company’s stock, valued at $22,119,736.32. This represents a 0.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Public Service Enterprise Group Stock Down 0.5%

PEG stock opened at $77.90 on Thursday. The stock has a market capitalization of $38.82 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.95 and a beta of 0.51. The firm has a 50-day simple moving average of $79.87 and a 200-day simple moving average of $81.01. 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 Incorporated has a 52 week low of $76.05 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company 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 Incorporated will post 4.37 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.4%. Public Service Enterprise Group’s payout ratio is currently 59.29%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PEG shares. Truist Financial cut their target price on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Barclays boosted their target price on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. boosted their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Finally, LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and lowered their price target 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $93.19.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rossby Financial LCC boosted its holdings in shares of Public Service Enterprise Group by 5.5% in the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after buying an additional 121 shares in the last quarter. Colonial Trust Co SC boosted its holdings in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after buying an additional 121 shares in the last quarter. JPL Wealth Management LLC boosted its holdings in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after buying an additional 122 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 2.6% in the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after buying an additional 125 shares in the last quarter. Finally, Strategic Investment Advisors MI boosted its stake in Public Service Enterprise Group by 0.8% during 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. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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.