JPMorgan Chase & Co. Issues Pessimistic Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price target cut by JPMorgan Chase & Co. from $96.00 to $88.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.68% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. TD Cowen lifted their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Evercore ISI began coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective for the company. Wells Fargo & Company assumed coverage on shares of Public Service Enterprise Group in a research report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price on the stock. Wall Street Zen raised shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, Barclays raised their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $91.35.

Public Service Enterprise Group Stock Down 0.2%

NYSE PEG opened at $78.80 on Friday. Public Service Enterprise Group has a twelve month low of $74.67 and a twelve month high of $91.25. The stock has a market cap of $39.33 billion, a PE ratio of 18.94, a PEG ratio of 2.41 and a beta of 0.59. The firm has a 50-day simple moving average of $81.85 and a 200 day simple moving average of $82.70. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93.

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

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the business’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 transaction, the senior vice president directly owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC increased its holdings in 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 buying an additional 13,540 shares during the period. Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $564,238,000. Janney Montgomery Scott LLC increased its stake in Public Service Enterprise Group by 2.5% in the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider’s stock valued at $5,812,000 after acquiring an additional 1,652 shares during the last quarter. Magellan Asset Management Ltd increased its stake in Public Service Enterprise Group by 9.8% in the second quarter. Magellan Asset Management Ltd now owns 354,187 shares of the utilities provider’s stock valued at $29,815,000 after acquiring an additional 31,486 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in Public Service Enterprise Group by 69.6% during the first quarter. Intech Investment Management LLC now owns 23,301 shares of the utilities provider’s stock valued at $1,918,000 after purchasing an additional 9,563 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.