Key Points
- CEO Ralph Larossa sold 2,083 PEG shares for approximately $140,561 under a pre-arranged Rule 10b5-1 trading plan, reducing his ownership by 0.74% to 279,490 shares.
- PEG shares opened at $68.05, near their 12-month low of $66.15 and below the 50- and 200-day moving averages. The company’s latest quarter beat earnings expectations, but revenue declined 8.9% year over year.
- The company pays a quarterly dividend of $0.67, equivalent to a 3.9% annual yield. Analysts maintain a consensus “Hold” rating with an average price target of $89.23, while institutional investors own 73.34% of shares.
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 on Thursday, October 1st. The stock was sold at an average price of $67.48, for a total transaction of $140,560.84. Following the transaction, the chief executive officer owned 279,490 shares of the company's stock, valued at $18,859,985.20. This trade represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Public Service Enterprise Group Trading Up 0.2%
Shares of PEG stock opened at $68.05 on Friday. The firm has a market capitalization of $33.91 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.56 and a beta of 0.50. Public Service Enterprise Group Incorporated has a twelve month low of $66.15 and a twelve month high of $87.63. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31. The stock's fifty day simple moving average is $73.00 and its 200 day simple moving average is $77.66.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results 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 return on equity of 12.42% and a net margin of 16.04%.The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned $0.77 earnings per share. The business's quarterly revenue was down 8.9% on a year-over-year basis. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Incorporated will post 4.36 EPS for the current fiscal year.
Public Service Enterprise Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 9th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Wednesday, September 9th. Public Service Enterprise Group's dividend payout ratio (DPR) is 66.67%.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Truist Financial reduced their target price on shares of 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. Royal Bank Of Canada started coverage on shares of Public Service Enterprise Group in a research note on Thursday, July 2nd. They set a "sector perform" rating and a $81.00 price target for the company. Weiss Ratings lowered shares of Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research note on Saturday, September 26th. Finally, Morgan Stanley decreased their price objective on Public Service Enterprise Group from $91.00 to $88.00 and set an "overweight" rating for the company in a report on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $89.23.
Read Our Latest Stock Report on Public Service Enterprise Group
Institutional Trading of Public Service Enterprise Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at $4,366,570,000. State Street Corp increased its position in shares of Public Service Enterprise Group by 1.4% during the second quarter. State Street Corp now owns 29,481,434 shares of the utilities provider's stock worth $2,392,713,000 after buying an additional 399,191 shares during the period. Bank of America Corp DE bought a new position in Public Service Enterprise Group during the second quarter worth $1,207,400,000. Legal & General Group Plc bought a new position in Public Service Enterprise Group during the second quarter worth $554,994,000. Finally, Goldman Sachs Group Inc. raised its stake in Public Service Enterprise Group by 5.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,994,372 shares of the utilities provider's stock worth $401,048,000 after buying an additional 241,058 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.
About Public Service Enterprise Group
(
Get Free Report)
Public Service Enterprise Group Incorporated (NYSE: PEG) is an energy company headquartered in Newark, New Jersey. Founded in 1903, the company operates primarily through its regulated utility subsidiary, Public Service Electric and Gas Company (PSE&G), and its competitive energy businesses.
PSE&G is New Jersey's largest electric and gas utility, providing electricity and natural gas delivery, transmission, distribution, and related customer services to residential, commercial, and industrial customers across the state.
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