Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Has Average Target Price of $89.23

Public Service Enterprise Group Incorporated (NYSE:PEG) has been given a consensus rating of “Hold” by the seventeen analysts that are covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $87.97.

Several research firms recently weighed in on PEG. Wells Fargo & Company cut 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 report on Wednesday, August 5th. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 26th. Citigroup dropped their target price on shares of Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research report on Wednesday, August 5th. Jefferies Financial Group dropped their target price on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Finally, Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, September 18th.

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 dated Thursday, October 1st. The stock was sold at an average price of $67.48, for a total value of $140,560.84. Following the sale, the chief executive officer directly owned 279,490 shares of the company’s stock, valued at $18,859,985.20. This trade represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 8,000 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the sale, the senior vice president directly owned 20,970 shares in the company, valued at $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 12,166 shares of company stock valued at $896,328. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Public Service Enterprise Group by 1.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,797 shares of the utilities provider’s stock worth $5,104,000 after buying an additional 1,399 shares in the last quarter. CFS Investment Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 2.1% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 13,847 shares of the utilities provider’s stock valued at $993,000 after buying an additional 284 shares in the last quarter. Retirement Planning Group LLC lifted its holdings in shares of Public Service Enterprise Group by 10.8% during the 3rd quarter. Retirement Planning Group LLC now owns 4,939 shares of the utilities provider’s stock worth $333,000 after acquiring an additional 481 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth $575,000. Finally, Banque Pictet & Cie SA bought a new stake in shares of Public Service Enterprise Group during the 3rd quarter worth $587,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.6%

Shares of NYSE:PEG opened at $70.31 on Tuesday. The business’s 50 day simple moving average is $71.72 and its 200 day simple moving average is $76.80. Public Service Enterprise Group has a 1 year low of $66.15 and a 1 year high of $87.63. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. The company has a market capitalization of $35.05 billion, a P/E ratio of 17.49, a P/E/G ratio of 2.69 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the firm earned $0.77 EPS. The company’s quarterly revenue 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 anticipate that Public Service Enterprise Group will post 4.37 EPS for the current fiscal year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (NYSE: PEG), commonly known as PSEG, is an energy company headquartered in Newark, New Jersey. Through its subsidiaries, the company is primarily involved in electric and natural gas utility operations, power generation, and related energy services.

Public Service Electric & Gas Company (PSE&G), PSEG’s principal utility subsidiary, serves residential, commercial, and industrial customers throughout New Jersey. Its activities include the transmission and distribution of electricity, the distribution of natural gas, energy-efficiency programs, and infrastructure modernization.