Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $91.1923.

A number of equities research analysts have recently weighed in on PEG shares. Evercore ISI started coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective 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. Morgan Stanley cut their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. TD Cowen lifted their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Wells Fargo & Company began coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price objective for the company.

Public Service Enterprise Group Stock Performance

Shares of Public Service Enterprise Group stock opened at $81.25 on Friday. The business has a 50-day simple moving average of $82.19 and a 200-day simple moving average of $82.46. 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 one year low of $74.67 and a one year high of $95.22. The company has a market cap of $40.56 billion, a PE ratio of 20.52, a P/E/G ratio of 2.46 and a beta of 0.55.

Public Service Enterprise Group (NYSE:PEG) last issued 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. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s 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. On average, equities research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in Public Service Enterprise Group during the 2nd quarter worth $564,238,000. Bank of America Corp DE grew its holdings in shares of Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after purchasing an additional 3,469,886 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Public Service Enterprise Group by 4.9% during the first quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock worth $5,247,586,000 after purchasing an additional 2,986,646 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Public Service Enterprise Group by 27.8% in the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after purchasing an additional 1,408,707 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Public Service Enterprise Group in the 1st quarter valued at about $95,076,000. Institutional investors and hedge funds 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.