Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received a consensus rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $90.9615.

PEG has been the subject of several recent analyst reports. Barclays boosted their target price on Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, December 12th. Morgan Stanley lowered 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 report on Thursday, September 25th. Finally, Wells Fargo & Company began coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target on the stock.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock traded up $0.16 during mid-day trading on Wednesday, reaching $80.59. 76,688 shares of the company’s stock were exchanged, compared to its average volume of 2,838,801. The firm has a market capitalization of $40.23 billion, a PE ratio of 19.34, a P/E/G ratio of 2.46 and a beta of 0.59. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $81.69 and its 200 day simple moving average is $82.71. Public Service Enterprise Group has a one year low of $74.67 and a one year high of $91.25.

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

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be issued a $0.63 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.1%. Public Service Enterprise Group’s payout ratio is currently 60.58%.

Insiders Place Their Bets

In related news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Strategic Investment Advisors MI raised its holdings in Public Service Enterprise Group by 0.8% during the 3rd quarter. Strategic Investment Advisors MI now owns 15,954 shares of the utilities provider’s stock valued at $1,331,000 after buying an additional 127 shares during the last quarter. Allworth Financial LP raised its stake in shares of Public Service Enterprise Group by 2.9% during the third quarter. Allworth Financial LP now owns 15,022 shares of the utilities provider’s stock valued at $1,254,000 after acquiring an additional 423 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in shares of Public Service Enterprise Group by 81.8% during the third quarter. Swiss Life Asset Management Ltd now owns 170,202 shares of the utilities provider’s stock worth $14,205,000 after purchasing an additional 76,590 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Public Service Enterprise Group during the 3rd quarter valued at about $5,746,000. Finally, Chartist Inc. CA bought a new position in Public Service Enterprise Group during the 3rd quarter valued at approximately $434,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.