Public Service Enterprise Group Incorporated (NYSE:PEG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been given a consensus rating of “Moderate Buy” by the fourteen ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $91.3462.

A number of analysts have recently weighed in on PEG shares. TD Cowen raised their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. BMO Capital Markets lowered their price objective 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 report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday, December 29th. BTIG Research began coverage on shares of Public Service Enterprise Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered their price target on shares of Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, December 12th.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group stock in a transaction dated 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 directly owned 26,134 shares in the company, valued at $2,151,612.22. This trade represents a 15.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG traded down $0.02 during trading on Friday, reaching $79.39. The stock had a trading volume of 3,469,496 shares, compared to its average volume of 2,380,528. The stock has a market capitalization of $39.63 billion, a PE ratio of 19.08, a P/E/G ratio of 2.24 and a beta of 0.60. 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 52 week low of $74.67 and a 52 week high of $91.25. The business’s 50-day moving average price is $80.60 and its 200 day moving average price is $82.40.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly 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. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the prior year, the company earned $0.90 EPS. Public Service Enterprise Group’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, equities analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were given a dividend of $0.63 per share. The ex-dividend date was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. Public Service Enterprise Group’s payout ratio is presently 60.58%.

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.