Key Points
- Public Service Enterprise Group COO Kim Hanemann sold 3,035 shares at an average price of $82.00, totaling about $248,870. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The company recently beat quarterly earnings and revenue estimates, reporting EPS of $1.55 versus the $1.44 consensus and revenue of $3.85 billion versus expectations of $3.35 billion. Revenue rose 19.4% year over year.
- PEG also declared a quarterly dividend of $0.67 per share, or $2.68 annually, representing a yield of about 3.2%. Analysts currently rate the stock a consensus “Moderate Buy” with a target price of $93.19.
Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) COO Kim Hanemann sold 3,035 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Public Service Enterprise Group Trading Up 1.0%
Shares of Public Service Enterprise Group stock opened at $83.50 on Friday. The stock has a market capitalization of $41.61 billion, a P/E ratio of 18.47, a price-to-earnings-growth ratio of 3.11 and a beta of 0.51. The company has a quick ratio of 0.75, a current ratio of 0.97 and a debt-to-equity ratio of 1.31. The company has a 50-day simple moving average of $79.36 and a 200 day simple moving average of $80.81. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.11. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Research analysts expect that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.
Public Service Enterprise Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 9th will be given a dividend of $0.67 per share. The ex-dividend date is Tuesday, June 9th. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. Public Service Enterprise Group's dividend payout ratio is 59.29%.
Hedge Funds Weigh In On Public Service Enterprise Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Public Service Enterprise Group by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider's stock valued at $5,420,155,000 after acquiring an additional 2,189,951 shares during the last quarter. State Street Corp grew its holdings in shares of Public Service Enterprise Group by 2.8% in the 4th quarter. State Street Corp now owns 28,361,198 shares of the utilities provider's stock valued at $2,277,404,000 after buying an additional 762,591 shares during the period. Bank of America Corp DE increased its position in shares of Public Service Enterprise Group by 1.4% in the 3rd quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider's stock valued at $1,483,366,000 after buying an additional 236,794 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Public Service Enterprise Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider's stock worth $1,021,475,000 after acquiring an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Public Service Enterprise Group by 8.1% during the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider's stock worth $722,546,000 after purchasing an additional 648,140 shares during the period. Institutional investors own 73.34% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on PEG shares. Evercore upgraded Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 target price on the stock in a report on Thursday, March 5th. Barclays upped their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. Truist Financial lowered their price objective on shares of Public Service Enterprise Group from $91.00 to $88.00 and set a "hold" rating for the company in a research report on Monday, May 18th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, Weiss Ratings lowered shares of Public Service Enterprise Group from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $93.19.
Check Out Our Latest Stock Analysis on Public Service Enterprise Group
About Public Service Enterprise Group
(
Get Free Report)
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.
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