Public Service Enterprise Group (NYSE:PEG) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of Public Service Enterprise Group (NYSE:PEG) in a research report released on Thursday morning, MarketBeat reports. The firm currently has a $85.00 target price on the utilities provider’s stock, down from their previous target price of $88.00.

Several other research firms have also recently weighed in on PEG. Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a report on Wednesday, January 14th. Barclays lifted their price objective on 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. BMO Capital Markets reduced their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a research note on Tuesday, November 4th. Morgan Stanley decreased 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 report on Thursday, September 25th. Finally, UBS Group decreased their price target on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, December 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.96.

Public Service Enterprise Group Price Performance

Shares of PEG opened at $79.28 on Thursday. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $91.25. The stock has a market cap of $39.57 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.59 and a beta of 0.60. The business’s fifty day moving average is $80.30 and its 200 day moving average is $82.33. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion during 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 business’s revenue was up 22.1% on a year-over-year basis. 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 anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

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

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the sale, the senior vice president directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. JARISLOWSKY FRASER Ltd boosted its position in Public Service Enterprise Group by 107.1% during the 3rd quarter. JARISLOWSKY FRASER Ltd now owns 1,025,305 shares of the utilities provider’s stock valued at $85,572,000 after acquiring an additional 530,248 shares in the last quarter. Railway Pension Investments Ltd grew its stake in shares of Public Service Enterprise Group by 97.5% during the third quarter. Railway Pension Investments Ltd now owns 1,897,800 shares of the utilities provider’s stock worth $158,390,000 after acquiring an additional 937,100 shares during the last quarter. Voya Investment Management LLC increased its stake in Public Service Enterprise Group by 18.2% during the 3rd quarter. Voya Investment Management LLC now owns 1,645,407 shares of the utilities provider’s stock valued at $137,155,000 after purchasing an additional 253,810 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Public Service Enterprise Group by 22.6% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 73,542 shares of the utilities provider’s stock valued at $6,192,000 after acquiring an additional 13,540 shares during the period. Finally, Norges Bank acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at about $564,238,000. Hedge funds and other 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.