Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $90.00 at JPMorgan Chase & Co.

Public Service Enterprise Group (NYSE:PEG) had its target price raised by equities research analysts at JPMorgan Chase & Co. from $85.00 to $90.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 8.69% from the stock’s previous close.

Other research analysts also recently issued reports about the company. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective for the company in a research note on Wednesday, January 7th. Argus raised shares of Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Wells Fargo & Company increased their price target on Public Service Enterprise Group from $92.00 to $94.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Finally, Barclays raised their price target on Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.12.

Public Service Enterprise Group Stock Performance

PEG stock traded up $0.50 during midday trading on Thursday, reaching $82.81. 1,102,927 shares of the company’s stock traded hands, compared to its average volume of 2,980,706. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.28. Public Service Enterprise Group has a 52-week low of $74.67 and a 52-week high of $91.25. The stock has a market cap of $41.30 billion, a P/E ratio of 19.64, a PEG ratio of 2.71 and a beta of 0.60. The stock’s 50-day moving average is $81.98 and its 200 day moving average is $81.79.

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

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,700 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the transaction, the senior vice president directly owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $83.66, for a total value of $174,263.78. Following the transaction, the chief executive officer owned 292,889 shares of the company’s stock, valued at $24,503,093.74. This represents a 0.71% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. HM Payson & Co. lifted its holdings in shares of Public Service Enterprise Group by 3.3% in the 3rd quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after acquiring an additional 120 shares during the last quarter. Rossby Financial LCC lifted its stake in shares of Public Service Enterprise Group by 5.5% in the 3rd quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock valued at $191,000 after purchasing an additional 121 shares during the last quarter. Colonial Trust Co SC lifted its stake in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 121 shares during the last quarter. JPL Wealth Management LLC boosted its holdings in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock worth $2,734,000 after purchasing an additional 122 shares during the period. Finally, Transcend Capital Advisors LLC increased its position in shares of Public Service Enterprise Group by 2.6% during the 3rd quarter. Transcend Capital Advisors LLC now owns 4,916 shares of the utilities provider’s stock valued at $410,000 after purchasing an additional 125 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.