Public Service Enterprise Group (NYSE:PEG) Upgraded by Jefferies Financial Group to Buy Rating

Jefferies Financial Group upgraded shares of Public Service Enterprise Group (NYSE:PEG) from a hold rating to a buy rating in a research note released on Thursday, MarketBeat.com reports. They currently have $90.00 target price on the utilities provider’s stock, up from their previous target price of $89.00.

Other research analysts have also recently issued reports about the stock. UBS Group increased their target price on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Wells Fargo & Company began coverage on shares of Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price objective on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. Morgan Stanley reduced 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 note on Thursday, September 25th. Finally, TD Cowen increased their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.19.

Public Service Enterprise Group Trading Up 3.1%

PEG opened at $82.35 on Thursday. 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 stock’s fifty day moving average is $82.00 and its two-hundred day moving average is $82.32. The company has a market capitalization of $41.10 billion, a P/E ratio of 20.80, a PEG ratio of 2.46 and a beta of 0.55. Public Service Enterprise Group has a 52 week low of $74.67 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Institutional Trading of Public Service Enterprise Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Florida Financial Advisors LLC boosted its position in shares of Public Service Enterprise Group by 42.9% in the 3rd quarter. Florida Financial Advisors LLC now owns 10,909 shares of the utilities provider’s stock worth $911,000 after purchasing an additional 3,277 shares in the last quarter. Ameritas Advisory Services LLC raised its stake in Public Service Enterprise Group by 18.7% in the third quarter. Ameritas Advisory Services LLC now owns 4,865 shares of the utilities provider’s stock valued at $406,000 after buying an additional 768 shares during the last quarter. Metis Global Partners LLC raised its stake in Public Service Enterprise Group by 8.3% in the third quarter. Metis Global Partners LLC now owns 63,635 shares of the utilities provider’s stock valued at $5,311,000 after buying an additional 4,887 shares during the last quarter. Assetmark Inc. boosted its holdings in Public Service Enterprise Group by 4.6% in the third quarter. Assetmark Inc. now owns 893,950 shares of the utilities provider’s stock worth $74,609,000 after acquiring an additional 38,949 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in shares of Public Service Enterprise Group by 4.7% during the third quarter. Public Sector Pension Investment Board now owns 107,585 shares of the utilities provider’s stock worth $8,979,000 after acquiring an additional 4,848 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.