Public Service Enterprise Group (NYSE:PEG) Upgraded at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group (NYSE:PEG) from a neutral rating to a buy rating in a research report report published on Wednesday, MarketBeat.com reports. The brokerage currently has $87.50 price objective on the utilities provider’s stock.

Several other equities research analysts also recently commented on PEG. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $89.00 to $90.00 in a report on Thursday, November 6th. 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 on the stock in a report on Tuesday, November 4th. Morgan Stanley dropped their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price for the company. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $91.35.

Public Service Enterprise Group Trading Up 1.6%

PEG opened at $78.67 on Wednesday. The company has a fifty day moving average price of $80.87 and a two-hundred day moving average price of $82.55. Public Service Enterprise Group has a 1-year low of $74.67 and a 1-year high of $91.25. The company has a market cap of $39.27 billion, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 2.18 and a beta of 0.60. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate 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 period last year, the business posted $0.90 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Wednesday, December 10th. Public Service Enterprise Group’s payout ratio is 60.58%.

Insider Activity 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of large investors have recently made changes to their positions in PEG. TFB Advisors LLC lifted its holdings in Public Service Enterprise Group by 4.8% during the 2nd quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider’s stock worth $220,000 after purchasing an additional 119 shares in the last quarter. HM Payson & Co. increased its position in shares of Public Service Enterprise Group by 3.3% during the third quarter. HM Payson & Co. now owns 3,755 shares of the utilities provider’s stock valued at $313,000 after buying an additional 120 shares during the period. Rossby Financial LCC lifted its holdings in shares of Public Service Enterprise Group by 5.5% in the third quarter. Rossby Financial LCC now owns 2,311 shares of the utilities provider’s stock worth $191,000 after buying an additional 121 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Public Service Enterprise Group by 26.8% in the third quarter. Colonial Trust Co SC now owns 573 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 121 shares during the period. Finally, JPL Wealth Management LLC grew its stake in Public Service Enterprise Group by 0.4% during the third quarter. JPL Wealth Management LLC now owns 32,758 shares of the utilities provider’s stock valued at $2,734,000 after acquiring an additional 122 shares in the last quarter. 73.34% of the stock is 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.