Key Points
- CEO Ralph Larossa sold 2,083 shares of Public Service Enterprise Group stock on July 1 at an average price of $80.51, totaling about $167,702. The sale was made under a pre-arranged Rule 10b5-1 plan, and he still owns 285,149 shares.
- The company reported strong quarterly results, posting earnings of $1.55 per share versus the $1.44 consensus estimate and revenue of $3.85 billion, which also topped expectations. Revenue rose 19.4% year over year.
- PEG continues to offer a solid dividend profile, with a recent quarterly payout of $0.67 per share, or $2.68 annualized, implying a 3.3% yield. The payout ratio stands at 59.29%.
Public Service Enterprise Group Incorporated (NYSE:PEG - Get Free Report) CEO Ralph Larossa sold 2,083 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $80.51, for a total value of $167,702.33. Following the transaction, the chief executive officer directly owned 285,149 shares in the company, valued at approximately $22,957,345.99. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Stock Performance
NYSE PEG opened at $81.55 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.75 and a debt-to-equity ratio of 1.31. The company has a fifty day simple moving average of $79.42 and a 200 day simple moving average of $80.89. Public Service Enterprise Group Incorporated has a 12-month low of $76.05 and a 12-month high of $91.25. The company has a market cap of $40.64 billion, a P/E ratio of 18.04, a PEG ratio of 3.02 and a beta of 0.51.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The utilities provider reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. Sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.37 earnings per share for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th were given a $0.67 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $2.68 annualized dividend and a yield of 3.3%. Public Service Enterprise Group's payout ratio is currently 59.29%.
Hedge Funds Weigh In On Public Service Enterprise Group
Several hedge funds have recently bought and sold shares of PEG. Vanguard Group Inc. lifted its stake in 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 worth $5,420,155,000 after purchasing an additional 2,189,951 shares in the last quarter. State Street Corp grew its position in shares of Public Service Enterprise Group by 2.8% during 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 purchasing an additional 762,591 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Public Service Enterprise Group by 1.4% in the third quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider's stock worth $1,483,366,000 after purchasing an additional 236,794 shares during the period. 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 purchasing an additional 114,351 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Public Service Enterprise Group by 8.1% in the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider's stock worth $722,546,000 after buying an additional 648,140 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on PEG shares. Barclays upped their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Royal Bank Of Canada assumed coverage on shares of Public Service Enterprise Group in a report on Thursday. They set a "sector perform" rating and a $81.00 price objective on the stock. BMO Capital Markets boosted their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a "market perform" rating in a research report on Monday, April 13th. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a "buy" rating to a "neutral" rating and dropped their price target for the company from $87.50 to $84.50 in a research note on Friday, March 13th. Finally, Evercore raised shares of Public Service Enterprise Group from an "in-line" rating to an "outperform" rating and set a $96.00 price objective for the company in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Public Service Enterprise Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.32.
Check Out Our Latest Analysis on PEG
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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