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

Public Service Enterprise Group Incorporated (NYSE:PEG) has received an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to 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 equities research analysts recently commented on PEG shares. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. JPMorgan Chase & Co. cut 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 note on Friday, December 12th. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target on the stock in a research note on Wednesday. Finally, Wells Fargo & Company initiated coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price objective for the company.

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 on Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares in the company, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds have recently modified their holdings of the business. 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 last quarter. HM Payson & Co. lifted its stake 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 worth $313,000 after purchasing an additional 120 shares during the last quarter. Rossby Financial LCC lifted its stake in Public Service Enterprise Group by 5.5% during the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after purchasing an additional 121 shares during the last quarter. Colonial Trust Co SC boosted 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 valued at $48,000 after purchasing an additional 121 shares in the last quarter. Finally, JPL Wealth Management LLC increased its stake 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 valued at $2,734,000 after purchasing an additional 122 shares during the last quarter. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $78.67 on Friday. The firm has a market cap of $39.27 billion, a PE ratio of 18.91, a P/E/G ratio of 2.21 and a beta of 0.60. Public Service Enterprise Group has a twelve month low of $74.67 and a twelve month high of $91.25. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $80.87 and a 200 day moving average price of $82.55.

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

Public Service Enterprise Group Announces Dividend

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

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.