Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $89.00

Public Service Enterprise Group (NYSE:PEG) had its price target increased by equities research analysts at Barclays from $81.00 to $89.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price points to a potential upside of 6.71% from the company’s current price.

Several other brokerages also recently commented on PEG. UBS Group lowered their target price on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, December 17th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $85.00 target price (down from $88.00) on shares of Public Service Enterprise Group in a research report on Thursday, January 22nd. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research note on Wednesday, January 14th. Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Thursday. Finally, Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $89.00 to $90.00 in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Public Service Enterprise Group Stock Down 0.6%

PEG traded down $0.51 during midday trading on Thursday, reaching $83.40. 753,500 shares of the company were exchanged, compared to its average volume of 3,003,843. The company has a market cap of $41.59 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 2.74 and a beta of 0.60. Public Service Enterprise Group has a one year low of $74.67 and a one year high of $91.25. The company’s fifty day moving average price is $81.70 and its 200 day moving average price is $81.81. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.60 and a current ratio of 0.80.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a return on equity of 12.11% and a net margin of 17.35%.Public Service Enterprise Group’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the sale, the senior vice president directly owned 28,481 shares in the company, valued at approximately $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently modified their holdings of the business. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at about $25,000. Chapman Financial Group LLC bought a new position in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC purchased a new position in shares of Public Service Enterprise Group during the third quarter valued at approximately $27,000. Quest 10 Wealth Builders Inc. boosted its position in shares of Public Service Enterprise Group by 250.5% in the 4th quarter. Quest 10 Wealth Builders Inc. now owns 347 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 248 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Public Service Enterprise Group in the 3rd quarter worth approximately $38,000. Institutional investors 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.