Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) Target Price at $91.85

Public Service Enterprise Group Incorporated (NYSE:PEG) has received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $91.85.

Several research analysts have recently issued reports on PEG shares. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 6th. Barclays reduced their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Saturday, September 27th. Finally, UBS Group raised their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a “buy” rating in a research note on Friday, July 25th.

Public Service Enterprise Group Stock Up 0.5%

PEG opened at $82.02 on Friday. Public Service Enterprise Group has a twelve month low of $74.67 and a twelve month high of $95.22. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The company has a 50-day moving average price of $83.92 and a 200 day moving average price of $82.22. The company has a market cap of $40.93 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. Public Service Enterprise Group’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Sell-side analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 9th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 9th. Public Service Enterprise Group’s dividend payout ratio is currently 63.64%.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently bought and sold shares of PEG. Norges Bank acquired a new stake in shares of Public Service Enterprise Group during the 2nd quarter valued at about $564,238,000. Bank of America Corp DE grew its position in Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after acquiring an additional 3,469,886 shares during the period. Vanguard Group Inc. raised its position in Public Service Enterprise Group by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 63,761,676 shares of the utilities provider’s stock valued at $5,247,586,000 after purchasing an additional 2,986,646 shares during the last quarter. Invesco Ltd. boosted its position in Public Service Enterprise Group by 27.8% in the 2nd quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after buying an additional 1,408,707 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Public Service Enterprise Group in the first quarter valued at approximately $95,076,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

About Public Service Enterprise Group

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.