Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $87.00

Public Service Enterprise Group (NYSE:PEG) had its target price lifted by Barclays from $82.00 to $87.00 in a research note published on Tuesday morning,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

A number of other brokerages have also recently issued reports on PEG. Morgan Stanley reduced their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. BMO Capital Markets decreased their price objective on Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a research note on Monday. TD Cowen initiated coverage on Public Service Enterprise Group in a research note on Thursday, October 16th. They issued a “buy” rating and a $93.00 target price on the stock. Finally, Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus price target of $91.79.

Public Service Enterprise Group Trading Down 1.2%

Shares of PEG opened at $82.78 on Tuesday. The stock’s fifty day simple moving average is $82.45 and its 200-day simple moving average is $82.33. The firm has a market capitalization of $41.31 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.57 and a beta of 0.53. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same period in the previous year, the business posted $0.63 EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, research analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Institutional Trading of Public Service Enterprise Group

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $564,238,000. Bank of America Corp DE raised its holdings in shares of Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares during the period. Vanguard Group Inc. raised its holdings in shares of Public Service Enterprise Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after acquiring an additional 2,986,646 shares during the period. Invesco Ltd. lifted its position in Public Service Enterprise Group by 27.8% in the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after acquiring an additional 1,408,707 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Public Service Enterprise Group in the 1st quarter worth $95,076,000. 73.34% of the stock is owned by institutional investors.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.