Public Service Enterprise Group (NYSE:PEG) Given New $83.00 Price Target at BMO Capital Markets

Public Service Enterprise Group (NYSE:PEG) had its price target lowered by stock analysts at BMO Capital Markets from $85.00 to $83.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 1.75% from the company’s current price.

PEG has been the topic of several other reports. UBS Group lifted their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Wall Street Zen upgraded Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Evercore ISI started coverage on Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price on the stock. BTIG Research started coverage on Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 target price on the stock. Finally, Morgan Stanley decreased their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.04.

Public Service Enterprise Group Stock Performance

PEG traded up $0.21 during trading hours on Tuesday, hitting $81.57. The company’s stock had a trading volume of 215,384 shares, compared to its average volume of 2,821,080. Public Service Enterprise Group has a fifty-two week low of $74.67 and a fifty-two week 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. The firm has a market capitalization of $40.71 billion, a PE ratio of 20.60, a PEG ratio of 2.46 and a beta of 0.53. The company has a 50-day simple moving average of $82.10 and a 200 day simple moving average of $82.35.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, sell-side analysts expect 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 bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Public Service Enterprise Group by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after purchasing an additional 1,199,371 shares during the last quarter. State Street Corp boosted its stake in shares of Public Service Enterprise Group by 0.8% during the 2nd quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock worth $2,300,701,000 after acquiring an additional 206,843 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Public Service Enterprise Group by 24.7% during the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after acquiring an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Public Service Enterprise Group by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock worth $1,049,973,000 after acquiring an additional 110,087 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of Public Service Enterprise Group by 9.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after acquiring an additional 715,051 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.