Public Service Enterprise Group (NYSE:PEG) Hits New 1-Year Low – Here’s Why

Public Service Enterprise Group Incorporated (NYSE:PEG)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $72.39 and last traded at $72.4860, with a volume of 478140 shares. The stock had previously closed at $74.24.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PEG. Royal Bank Of Canada assumed 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 objective for the company. Jefferies Financial Group cut 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 research note on Monday, July 20th. Citigroup lowered 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 report on Wednesday, August 5th. Weiss Ratings cut Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, August 5th. Finally, Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $93.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. One 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $89.43.

Public Service Enterprise Group Trading Down 2.9%

The company has a current ratio of 0.88, a quick ratio of 0.67 and a debt-to-equity ratio of 1.31. The business has a 50 day moving average price of $76.90 and a 200-day moving average price of $79.55. The firm has a market capitalization of $35.95 billion, a PE ratio of 17.94, a P/E/G ratio of 2.78 and a beta of 0.50.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping 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 business 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 posted $0.77 EPS. The company’s 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. Analysts expect that Public Service Enterprise Group Incorporated will post 4.36 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.67%.

Insider Buying and Selling

In related news, COO Kim Hanemann sold 3,035 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total value of $248,870.00. Following the completion of the transaction, the chief operating officer owned 98,815 shares of the company’s stock, valued at approximately $8,102,830. The trade was a 2.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard Thigpen sold 8,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the transaction, the senior vice president 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,201 shares of company stock worth $1,172,339. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PEG. Entropy Technologies LP raised its position in shares of Public Service Enterprise Group by 115.6% during the 4th quarter. Entropy Technologies LP now owns 24,717 shares of the utilities provider’s stock valued at $1,985,000 after acquiring an additional 13,253 shares in the last quarter. Kestra Advisory Services LLC increased its stake in Public Service Enterprise Group by 26.3% during the first quarter. Kestra Advisory Services LLC now owns 69,089 shares of the utilities provider’s stock valued at $5,593,000 after purchasing an additional 14,406 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Public Service Enterprise Group by 120.0% during the first quarter. Y Intercept Hong Kong Ltd now owns 63,102 shares of the utilities provider’s stock valued at $5,108,000 after purchasing an additional 34,415 shares during the last quarter. Elevation Point Wealth Partners LLC raised its holdings in shares of Public Service Enterprise Group by 135.2% during the first quarter. Elevation Point Wealth Partners LLC now owns 21,693 shares of the utilities provider’s stock worth $1,756,000 after purchasing an additional 12,468 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of Public Service Enterprise Group by 38.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,946,512 shares of the utilities provider’s stock worth $156,305,000 after purchasing an additional 536,363 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (PSEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), PSEG delivers electricity and natural gas to residential, commercial and industrial customers across New Jersey.

PSE&G operates electric transmission and distribution infrastructure, natural gas distribution systems and related energy services. The utility also provides energy-efficiency programs, appliance and equipment solutions, and other services designed to help customers manage energy use and support the reliability of the regional power system.

Through PSEG Power, the company owns and operates a portfolio of power-generation assets and sells electricity in wholesale markets.