Public Service Enterprise Group Incorporated (NYSE:PEG) Given Average Rating of “Moderate Buy” by Analysts

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $91.3462.

Several research analysts have weighed in on PEG shares. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 4th. BTIG Research assumed coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 price target on the stock. Wells Fargo & Company started 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 objective for the company. TD Cowen boosted their target price on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a research report on Friday, December 12th.

Insider Activity at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction 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 transaction, the senior vice president owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This represents a 15.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC bought a new position in Public Service Enterprise Group in the 2nd quarter worth about $25,000. Chapman Financial Group LLC purchased a new position in shares of Public Service Enterprise Group during the second quarter worth about $25,000. Keener Financial Planning LLC bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $27,000. Cedar Mountain Advisors LLC bought a new position in shares of Public Service Enterprise Group in the third quarter worth approximately $27,000. Finally, GoalVest Advisory LLC raised its stake in Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Down 0.8%

Public Service Enterprise Group stock opened at $79.97 on Wednesday. Public Service Enterprise Group has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The firm’s 50-day simple moving average is $81.82 and its 200 day simple moving average is $82.73. The stock has a market cap of $39.91 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 2.46 and a beta of 0.59.

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

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $0.63 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.2%. Public Service Enterprise Group’s payout ratio is presently 60.58%.

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.