Insider Selling: Public Service Enterprise Group (NYSE:PEG) SVP Sells $596,480.00 in Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard Thigpen sold 8,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the transaction, the senior vice president directly owned 20,970 shares in the company, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $76.08 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. Public Service Enterprise Group Incorporated has a 52-week low of $74.20 and a 52-week high of $87.63. The company has a 50-day simple moving average of $79.11 and a 200-day simple moving average of $80.58. The company has a market capitalization of $37.92 billion, a PE ratio of 18.93, a P/E/G ratio of 2.86 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The firm had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The firm’s revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Equities research analysts predict that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 9th will be paid a dividend of $0.67 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $2.68 annualized dividend and a dividend yield of 3.5%. Public Service Enterprise Group’s payout ratio is 66.67%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Citigroup dropped their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. Jefferies Financial Group lowered their target price on 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 cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Truist Financial cut their price target on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $90.23.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Community Financial Services Group LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the second quarter worth $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Public Service Enterprise Group during the second quarter worth $26,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Public Service Enterprise Group by 250.5% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 248 shares during the last quarter. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Public Service Enterprise Group by 240.6% during the second quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 243 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.