Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) Target Price at $91.35

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $90.9615.

A number of research analysts recently issued reports on PEG shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday. Wells Fargo & Company assumed coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target on the stock. Evercore ISI began coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective for the company. UBS Group decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Jefferies Financial Group raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $89.00 to $90.00 in a report on Thursday, November 6th.

Public Service Enterprise Group Trading Down 0.7%

NYSE:PEG opened at $80.06 on Wednesday. Public Service Enterprise Group has a one year low of $74.67 and a one year high of $91.25. The business has a fifty day moving average price of $81.75 and a 200-day moving average price of $82.68. The firm has a market capitalization of $39.96 billion, a price-to-earnings ratio of 19.24, a price-to-earnings-growth ratio of 2.46 and a beta of 0.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69.

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

Public Service Enterprise Group Dividend Announcement

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

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group 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 sale, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors have recently added to or reduced their stakes in PEG. TFB Advisors LLC boosted its position in shares of Public Service Enterprise Group by 4.8% during the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock worth $220,000 after acquiring an additional 119 shares during the last quarter. HM Payson & Co. lifted its stake in 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 worth $313,000 after purchasing an additional 120 shares in the last quarter. Rossby Financial LCC boosted its holdings in shares of Public Service Enterprise Group by 5.5% during 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 grew its position in shares of Public Service Enterprise Group by 26.8% during the third 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 in the last quarter. Finally, JPL Wealth Management LLC grew its position in shares of Public Service Enterprise Group by 0.4% during the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after purchasing an additional 122 shares in 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.