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

Public Service Enterprise Group (NYSE:PEG) was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Tuesday, MarketBeat Ratings reports. The firm presently has a $92.00 target price on the utilities provider’s stock, up from their previous target price of $88.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 15.29% from the stock’s previous close.

A number of other brokerages also recently issued reports on PEG. Evercore ISI assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price objective for the company. 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 report on Tuesday, October 21st. UBS Group reduced their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. BMO Capital Markets lowered their target price 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. Finally, Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $89.00 to $90.00 in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.65.

Public Service Enterprise Group Trading Up 0.5%

PEG opened at $79.80 on Tuesday. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group has a fifty-two week low of $74.67 and a fifty-two week high of $91.25. The company’s 50 day moving average price is $80.36 and its two-hundred day moving average price is $82.36. The firm has a market capitalization of $39.83 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 2.24 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm 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 firm earned $0.90 earnings per share. The company’s revenue for the quarter 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. As a group, research analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Large investors have recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group during the second quarter worth about $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the 2nd quarter worth about $25,000. Cedar Mountain Advisors LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter valued at about $27,000. Keener Financial Planning LLC purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at about $27,000. Finally, GoalVest Advisory LLC lifted its position in shares of 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 buying an additional 225 shares in the last quarter. 73.34% of the stock is currently owned by institutional investors.

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.