Public Service Enterprise Group’s (PEG) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Public Service Enterprise Group (NYSE:PEG) in a research report sent to investors on Thursday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a $85.00 price target on the utilities provider’s stock, down from their previous price target of $88.00.

Several other brokerages also recently weighed in on PEG. UBS Group lowered their price target on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. TD Cowen raised their price objective on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price target for the stock from $89.00 to $90.00 in a research note on Thursday, November 6th. BTIG Research began coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Finally, Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. 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 an average price target of $90.96.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $78.28 on Thursday. The firm has a fifty day simple moving average of $80.21 and a two-hundred day simple moving average of $82.31. The firm has a market cap of $39.07 billion, a PE ratio of 18.82, a P/E/G ratio of 2.54 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group has a 1-year low of $74.67 and a 1-year high of $91.25.

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

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 60.58%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in shares of Public Service Enterprise Group by 57.1% in the 4th quarter. Farther Finance Advisors LLC now owns 10,058 shares of the utilities provider’s stock valued at $808,000 after buying an additional 3,655 shares during the period. TFC Financial Management Inc. lifted its position in Public Service Enterprise Group by 3,000.0% in the fourth quarter. TFC Financial Management Inc. now owns 589 shares of the utilities provider’s stock valued at $47,000 after buying an additional 570 shares during the last quarter. Sage Mountain Advisors LLC purchased a new position in Public Service Enterprise Group during the fourth quarter worth about $313,000. Assetmark Inc. increased its position in shares of Public Service Enterprise Group by 1.8% during the fourth quarter. Assetmark Inc. now owns 909,745 shares of the utilities provider’s stock valued at $73,053,000 after acquiring an additional 15,795 shares during the last quarter. Finally, Tectonic Advisors LLC increased its position in shares of Public Service Enterprise Group by 7.8% during the fourth quarter. Tectonic Advisors LLC now owns 9,522 shares of the utilities provider’s stock valued at $765,000 after acquiring an additional 691 shares during the last quarter. Institutional investors and hedge funds 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.