Public Service Enterprise Group (NYSE:PEG) Rating Increased to Buy at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group (NYSE:PEG) from a neutral rating to a buy rating in a research report released on Wednesday, Marketbeat.com reports. They currently have $87.50 target price on the utilities provider’s stock.

A number of other equities analysts have also issued reports on the stock. BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 target price for the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $89.00 to $90.00 in a research note on Thursday, November 6th. Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their target price on 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. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $91.35.

Public Service Enterprise Group Stock Down 1.2%

Shares of NYSE:PEG opened at $77.63 on Wednesday. The firm has a market cap of $38.75 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60. The company has a fifty day simple moving average of $80.98 and a 200 day simple moving average of $82.62. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $3.23 billion during 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%.The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, equities research analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were paid a $0.63 dividend. The ex-dividend date of this dividend was 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%.

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 dated Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently bought and sold shares of PEG. TFB Advisors LLC increased its stake in Public Service Enterprise Group by 4.8% in the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 119 shares during the period. HM Payson & Co. boosted its holdings in Public Service Enterprise Group by 3.3% during the third quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 120 shares in the last quarter. Rossby Financial LCC grew its stake in shares of Public Service Enterprise Group by 5.5% in 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 period. Colonial Trust Co SC raised its holdings in shares of Public Service Enterprise Group by 26.8% in the 3rd quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock worth $48,000 after buying an additional 121 shares in the last quarter. Finally, JPL Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group by 0.4% in the 3rd quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock worth $2,734,000 after buying an additional 122 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

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.