TD Cowen Forecasts Strong Price Appreciation for Public Service Enterprise Group (NYSE:PEG) Stock

Public Service Enterprise Group (NYSE:PEG) had its price objective lifted by investment analysts at TD Cowen from $93.00 to $96.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. TD Cowen’s target price points to a potential upside of 19.87% from the company’s current price.

PEG has been the topic of a number of other reports. Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Wednesday, October 8th. Barclays raised their price objective on 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. Morgan Stanley lowered 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. Finally, UBS Group raised their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $91.29.

Public Service Enterprise Group Stock Performance

Shares of NYSE:PEG traded down $1.73 on Wednesday, hitting $80.09. The company’s stock had a trading volume of 1,824,846 shares, compared to its average volume of 2,826,178. The stock’s 50-day moving average is $82.07 and its two-hundred day moving average is $82.33. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $95.22. The company has a market capitalization of $39.97 billion, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 2.46 and a beta of 0.55. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.11. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. DAVENPORT & Co LLC bought a new position in Public Service Enterprise Group in the first quarter valued at approximately $281,000. Envestnet Asset Management Inc. lifted its position in shares of Public Service Enterprise Group by 2.8% in the first quarter. Envestnet Asset Management Inc. now owns 992,812 shares of the utilities provider’s stock valued at $81,708,000 after buying an additional 27,472 shares during the last quarter. Callan Capital LLC lifted its position in shares of Public Service Enterprise Group by 6.3% in the first quarter. Callan Capital LLC now owns 3,499 shares of the utilities provider’s stock valued at $288,000 after buying an additional 208 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Public Service Enterprise Group by 1.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 114,989 shares of the utilities provider’s stock valued at $9,254,000 after buying an additional 1,960 shares during the last quarter. Finally, Greenleaf Trust lifted its position in shares of Public Service Enterprise Group by 6.4% in the first quarter. Greenleaf Trust now owns 11,847 shares of the utilities provider’s stock valued at $975,000 after buying an additional 708 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

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.