Richard Thigpen Sells 4,700 Shares of Public Service Enterprise Group (NYSE:PEG) Stock

Public Service Enterprise Group Incorporated (NYSE:PEG) SVP Richard Thigpen sold 4,700 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total value of $390,100.00. Following the completion of the transaction, the senior vice president owned 28,481 shares of the company’s stock, valued at $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Public Service Enterprise Group Trading Up 0.0%

Shares of PEG stock opened at $83.94 on Friday. Public Service Enterprise Group Incorporated has a twelve month low of $74.67 and a twelve month high of $91.25. The stock’s fifty day simple moving average is $81.76 and its 200 day simple moving average is $81.83. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $41.86 billion, a P/E ratio of 19.89, a P/E/G ratio of 2.74 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the firm posted $0.84 earnings per share. 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 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. Public Service Enterprise Group’s payout ratio is presently 59.72%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PEG shares. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $85.00 price target (down from $88.00) on shares of Public Service Enterprise Group in a report on Thursday, January 22nd. Wells Fargo & Company raised their target price on Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a report on Wednesday, January 7th. UBS Group reduced their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Finally, Barclays raised their price objective on Public Service Enterprise Group from $81.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and a consensus price target of $92.73.

Institutional Trading of Public Service Enterprise Group

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position 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 worth $5,420,155,000 after acquiring an additional 2,189,951 shares in the last quarter. State Street Corp grew its stake in Public Service Enterprise Group by 2.8% during the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock worth $2,277,404,000 after purchasing an additional 762,591 shares during the period. Bank of America Corp DE increased its holdings in 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 in the last quarter. Geode Capital Management LLC lifted its stake in 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 valued at $1,021,475,000 after buying an additional 114,351 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Public Service Enterprise Group by 8.1% during the 3rd 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. 73.34% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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.