Public Service Enterprise Group (NYSE:PEG) Stock Gets Price Target Reduction from Morgan Stanley

Public Service Enterprise Group (NYSE:PEG) had its target price cut by research analysts at Morgan Stanley from $88.00 to $85.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target suggests a potential upside of 19.32% from the stock’s current price.

A number of other research firms have also recently commented on PEG. Wells Fargo & Company cut their price target on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an “overweight” rating for the company in a research note 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. JPMorgan Chase & Co. dropped their price objective on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a report on Monday. Royal Bank Of Canada initiated coverage on shares of Public Service Enterprise Group in a research report on Thursday, July 2nd. They issued a “sector perform” rating and a $81.00 target price for the company. Finally, Truist Financial reduced their target price on Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.77.

Public Service Enterprise Group Price Performance

PEG stock traded up $0.38 during mid-day trading on Wednesday, reaching $71.24. 863,630 shares of the company traded hands, compared to its average volume of 3,061,847. The company has a fifty day moving average price of $71.64 and a 200-day moving average price of $76.72. Public Service Enterprise Group has a 52-week low of $66.15 and a 52-week high of $87.63. The company has a market capitalization of $35.51 billion, a P/E ratio of 17.72, a P/E/G ratio of 2.65 and a beta of 0.50. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67.

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, beating analysts’ consensus estimates of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. Public Service Enterprise Group’s revenue was down 8.9% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts anticipate that Public Service Enterprise Group will post 4.37 earnings per share for the current year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 8,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $74.56, for a total value of $596,480.00. Following the transaction, the senior vice president owned 20,970 shares in the company, valued at approximately $1,563,523.20. The trade was a 27.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 2,083 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $67.48, for a total transaction of $140,560.84. Following the transaction, the chief executive officer directly owned 279,490 shares of the company’s stock, valued at approximately $18,859,985.20. This trade represents a 0.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,166 shares of company stock valued at $896,328 over the last quarter. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Public Service Enterprise Group

Several large investors have recently modified their holdings of PEG. Community Financial Services Group LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Public Service Enterprise Group during the 2nd quarter worth about $26,000. Elevation Wealth Partners LLC boosted its stake in shares of Public Service Enterprise Group by 240.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 344 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 243 shares during the period. Aberdeen Wealth Management LLC bought a new position in Public Service Enterprise Group during the 2nd quarter valued at about $32,000. Finally, James T. Borello RIA bought a new position in Public Service Enterprise Group during the 3rd quarter valued at about $27,000. 73.34% of the stock is owned by institutional investors.

About Public Service Enterprise Group

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.