Public Service Enterprise Group (NYSE:PEG) Upgraded to “Overweight” at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Public Service Enterprise Group (NYSE:PEG) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday morning, Marketbeat reports. Wells Fargo & Company currently has $92.00 price objective on the utilities provider’s stock, up from their prior price objective of $88.00.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. decreased their price target on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a research note on Friday, December 12th. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price target for the company in a research report on Wednesday, January 7th. Evercore ISI assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target on the stock. Morgan Stanley lowered their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Finally, BTIG Research started coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $98.00 target price for the company. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Moderate Buy” and an average target price of $91.65.

Public Service Enterprise Group Trading Down 0.1%

Shares of PEG stock opened at $79.36 on Tuesday. 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 twelve month low of $74.67 and a twelve month high of $91.25. The company’s 50-day moving average price is $80.43 and its 200-day moving average price is $82.37. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 2.24 and a beta of 0.60.

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

Public Service Enterprise Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a $0.63 dividend. The ex-dividend date 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 60.58%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,920 shares of the 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 sale, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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

Several large investors have recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Public Service Enterprise Group during the second quarter worth about $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group in the second quarter worth approximately $27,000. Cedar Mountain Advisors LLC acquired a new position in Public Service Enterprise Group during the 3rd quarter worth approximately $27,000. Finally, GoalVest Advisory LLC grew its holdings in Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.