Public Service Enterprise Group (NYSE:PEG) Coverage Initiated by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a research report report published on Tuesday, MarketBeat.com reports. The brokerage issued an equal weight rating and a $88.00 target price on the utilities provider’s stock.

Several other research analysts have also recently commented on PEG. Barclays boosted their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. TD Cowen began coverage on shares of Public Service Enterprise Group in a report on Thursday, October 16th. They set a “buy” rating and a $93.00 price target for the company. Evercore ISI began coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target for the company. BTIG Research began coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target for the company. Finally, BMO Capital Markets lowered their price target on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a report on Monday, October 20th. One 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 company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $91.21.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $81.32 on Tuesday. Public Service Enterprise Group has a fifty-two week low of $74.67 and a fifty-two week high of $95.22. The firm’s 50 day moving average price is $82.33 and its 200 day moving average price is $82.42. The company has a market cap of $40.59 billion, a P/E ratio of 20.54, a PEG ratio of 2.56 and a beta of 0.53. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share 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 for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. On average, research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth $25,000. Cedar Mountain Advisors LLC acquired a new stake in Public Service Enterprise Group during the 3rd quarter worth $27,000. Keener Financial Planning LLC acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth $27,000. Finally, GoalVest Advisory LLC boosted its stake in Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares during the period. 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.