Barclays Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $81.00

Public Service Enterprise Group (NYSE:PEG) had its target price decreased by Barclays from $87.00 to $81.00 in a report published on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Other analysts have also recently issued reports about the stock. Argus raised shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. LADENBURG THALM/SH SH upgraded 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. BTIG Research assumed coverage on Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target for the company. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $89.00 to $90.00 in a report on Thursday, November 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $90.96.

Public Service Enterprise Group Trading Down 1.4%

NYSE PEG opened at $78.28 on Thursday. The company has a market cap of $39.07 billion, a P/E ratio of 18.82, a P/E/G ratio of 2.54 and a beta of 0.60. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $91.25. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The company has a 50-day moving average of $80.21 and a 200-day moving average of $82.31.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period last year, the company earned $0.90 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, equities analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were paid a $0.63 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Insider Activity at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Public Service Enterprise Group by 0.5% in the third quarter. Vanguard Group Inc. now owns 65,308,870 shares of the utilities provider’s stock valued at $5,450,678,000 after purchasing an additional 347,823 shares during the period. State Street Corp lifted its holdings in Public Service Enterprise Group by 1.0% in the 3rd quarter. State Street Corp now owns 27,598,607 shares of the utilities provider’s stock worth $2,303,380,000 after buying an additional 267,871 shares in the last quarter. Bank of America Corp DE boosted its position in 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 during the last quarter. Geode Capital Management LLC boosted its position in Public Service Enterprise Group by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after buying an additional 110,087 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its stake 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 valued at $722,546,000 after acquiring an additional 648,140 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.