Public Service Enterprise Group (NYSE:PEG) Upgraded to Buy at Jefferies Financial Group

Public Service Enterprise Group (NYSE:PEG) was upgraded by research analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a $90.00 target price on the utilities provider’s stock, up from their prior target price of $89.00. Jefferies Financial Group’s price target indicates a potential upside of 12.79% from the company’s current price.

PEG has been the subject of several other reports. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target for the company. Morgan Stanley decreased their price target on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. 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. Barclays lifted their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Finally, BMO Capital Markets decreased their target price on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.19.

Public Service Enterprise Group Stock Down 2.5%

Shares of PEG opened at $79.79 on Thursday. The company has a market capitalization of $39.82 billion, a PE ratio of 20.15, a PEG ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $95.22. The stock’s 50-day moving average price is $82.01 and its two-hundred day moving average price is $82.32. 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 released its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC boosted its position in shares of Public Service Enterprise Group by 22.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock worth $6,192,000 after acquiring an additional 13,540 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Public Service Enterprise Group by 2.5% during the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock worth $5,812,000 after acquiring an additional 1,652 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Public Service Enterprise Group by 69.6% during the first quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock worth $1,918,000 after acquiring an additional 9,563 shares during the last quarter. Chemistry Wealth Management LLC bought a new position in shares of Public Service Enterprise Group during the second quarter worth $579,000. Finally, Integrity Alliance LLC. bought a new position in shares of Public Service Enterprise Group during the first quarter worth $775,000. 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.