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

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

Several other analysts have also commented on PEG. TD Cowen began coverage on Public Service Enterprise Group in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 price objective for the company. Evercore ISI began coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective for the company. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Finally, UBS Group lifted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $91.23.

Public Service Enterprise Group Stock Down 2.0%

Public Service Enterprise Group stock opened at $83.12 on Tuesday. The firm has a market cap of $41.49 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 2.60 and a beta of 0.53. The stock has a fifty day simple moving average of $82.61 and a two-hundred day simple moving average of $82.28. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $95.22. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30.

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

Institutional Trading of Public Service Enterprise Group

Several hedge funds have recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC grew its holdings in Public Service Enterprise Group by 11.6% during the third quarter. Fifth Third Wealth Advisors LLC now owns 5,113 shares of the utilities provider’s stock valued at $427,000 after purchasing an additional 533 shares during the period. Radnor Capital Management LLC bought a new stake in Public Service Enterprise Group during the third quarter valued at about $225,000. Global Retirement Partners LLC grew its holdings in Public Service Enterprise Group by 17.5% during the third quarter. Global Retirement Partners LLC now owns 4,403 shares of the utilities provider’s stock valued at $367,000 after purchasing an additional 656 shares during the period. JARISLOWSKY FRASER Ltd grew its holdings in Public Service Enterprise Group by 107.1% during the third quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock valued at $85,572,000 after purchasing an additional 530,248 shares during the period. Finally, PDS Planning Inc grew its holdings in Public Service Enterprise Group by 4.0% during the third quarter. PDS Planning Inc now owns 5,179 shares of the utilities provider’s stock valued at $432,000 after purchasing an additional 199 shares during the period. Institutional investors own 73.34% of the company’s stock.

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.