Public Service Enterprise Group (NYSE:PEG) Rating Increased to Strong-Buy at TD Cowen

Public Service Enterprise Group (NYSE:PEG) was upgraded by stock analysts at TD Cowen to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. 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 6th. UBS Group raised their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. BMO Capital Markets raised their target price on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Evercore ISI started coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 target price on the stock. Finally, Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.14.

Public Service Enterprise Group Stock Down 0.5%

Shares of NYSE PEG opened at $84.33 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The company has a market cap of $42.09 billion, a P/E ratio of 21.30, a PEG ratio of 2.60 and a beta of 0.53. Public Service Enterprise Group has a 1 year low of $74.67 and a 1 year high of $95.22. The firm has a 50-day simple moving average of $82.80 and a two-hundred day simple moving average of $82.22.

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 (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors have recently bought and sold shares of the business. TFB Advisors LLC grew its holdings in Public Service Enterprise Group by 4.8% in the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 119 shares during the last quarter. Massachusetts Wealth Management lifted its stake in shares of Public Service Enterprise Group by 2.5% during the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider’s stock worth $431,000 after buying an additional 125 shares during the period. Apollon Wealth Management LLC lifted its stake in shares of Public Service Enterprise Group by 0.8% during the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider’s stock worth $1,315,000 after buying an additional 126 shares during the period. FourThought Financial Partners LLC lifted its stake in shares of Public Service Enterprise Group by 2.8% during the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider’s stock worth $378,000 after buying an additional 127 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of Public Service Enterprise Group by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 42,803 shares of the utilities provider’s stock worth $3,523,000 after buying an additional 130 shares during the period. 73.34% of the stock is owned by hedge funds and other 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.