Public Service Enterprise Group (NYSE:PEG) Hits New 12-Month Low After Analyst Downgrade

Public Service Enterprise Group Incorporated (NYSE:PEG)’s stock price reached a new 52-week low during trading on Monday after Morgan Stanley lowered their price target on the stock from $91.00 to $88.00. Morgan Stanley currently has an overweight rating on the stock. Public Service Enterprise Group traded as low as $69.72 and last traded at $69.8510, with a volume of 7509439 shares. The stock had previously closed at $69.77.

PEG has been the subject of a number of other research reports. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Truist Financial cut their price objective on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Citigroup decreased their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating for the company in a report on Wednesday, August 5th. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 5th. Finally, Weiss Ratings lowered shares of Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $89.23.

Insider Buying and Selling

In other news, SVP Richard Thigpen sold 8,000 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Kim Hanemann sold 3,035 shares of the business’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total transaction of $248,870.00. Following 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 15,201 shares of company stock valued at $1,172,339 in the last three months. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its position in Public Service Enterprise Group by 20.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 34,091 shares of the utilities provider’s stock worth $2,767,000 after buying an additional 5,796 shares during the last quarter. Tidal Investments LLC increased its position in Public Service Enterprise Group by 185.2% during the 2nd quarter. Tidal Investments LLC now owns 194,489 shares of the utilities provider’s stock worth $15,785,000 after purchasing an additional 126,300 shares during the period. National Pension Service lifted its holdings in shares of Public Service Enterprise Group by 2.8% in the 2nd quarter. National Pension Service now owns 732,199 shares of the utilities provider’s stock valued at $59,425,000 after buying an additional 19,898 shares during the period. WINTON GROUP Ltd grew its holdings in Public Service Enterprise Group by 86.2% during the second quarter. WINTON GROUP Ltd now owns 15,337 shares of the utilities provider’s stock worth $1,245,000 after acquiring an additional 7,101 shares during the period. Finally, Engineers Gate Manager LP raised its position in Public Service Enterprise Group by 74.4% in the second quarter. Engineers Gate Manager LP now owns 105,592 shares of the utilities provider’s stock worth $8,570,000 after acquiring an additional 45,056 shares in the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.1%

The company has a market cap of $34.81 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 2.63 and a beta of 0.50. The business has a fifty day simple moving average of $75.34 and a 200 day simple moving average of $78.73. 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 (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter 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, equities analysts anticipate that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, September 9th. Public Service Enterprise Group’s payout ratio is presently 66.67%.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Through its principal subsidiary, Public Service Electric and Gas Company (PSE&G), it provides regulated electric and natural gas transmission, distribution and delivery services to residential, commercial and industrial customers, primarily in New Jersey.

PSEG also owns PSEG Power, which operates and manages a diverse portfolio of electric-generating facilities, including nuclear, natural gas and renewable energy assets.