Public Service Enterprise Group (NYSE:PEG) Now Covered by Evercore ISI

Evercore ISI initiated coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a report issued on Tuesday morning, Marketbeat Ratings reports. The firm issued an in-line rating and a $83.00 target price on the utilities provider’s stock.

Several other analysts have also weighed in on the stock. UBS Group lifted their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Barclays lowered their price objective on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research note on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.95.

Public Service Enterprise Group Stock Down 1.7%

Public Service Enterprise Group stock opened at $80.44 on Tuesday. 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 has a 52-week low of $74.67 and a 52-week high of $95.22. The firm has a 50 day moving average price of $83.65 and a two-hundred day moving average price of $82.20. The firm has a market cap of $40.14 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.85 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $0.63 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 63.64%.

Institutional Trading of Public Service Enterprise Group

Several hedge funds have recently bought and sold shares of PEG. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $25,000. Chapman Financial Group LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $25,000. Keener Financial Planning LLC bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth $27,000. GoalVest Advisory LLC grew its stake in shares of Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth $32,000. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.