Morgan Stanley Lowers Public Service Enterprise Group (NYSE:PEG) Price Target to $91.00

Public Service Enterprise Group (NYSE:PEG) had its price target dropped by stock analysts at Morgan Stanley from $93.00 to $91.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price suggests a potential upside of 23.96% from the stock’s current price.

A number of other analysts also recently commented on the company. Jefferies Financial Group decreased their price target on Public Service Enterprise Group from $89.00 to $78.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Royal Bank Of Canada began coverage on Public Service Enterprise Group in a research report on Thursday, July 2nd. They set a “sector perform” rating and a $81.00 price target on the stock. Citigroup lowered their price objective on Public Service Enterprise Group from $91.00 to $84.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 5th. Truist Financial lowered their price target on Public Service Enterprise Group from $90.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 13th. Finally, Weiss Ratings downgraded Public Service Enterprise Group from a “buy (b-)” rating to a “hold (c)” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.43.

Public Service Enterprise Group Stock Down 1.6%

NYSE:PEG traded down $1.21 on Friday, hitting $73.41. The stock had a trading volume of 605,937 shares, compared to its average volume of 2,894,738. The company has a market cap of $36.59 billion, a PE ratio of 18.26, a P/E/G ratio of 2.84 and a beta of 0.51. The business’s fifty day moving average is $78.86 and its 200 day moving average is $80.42. Public Service Enterprise Group has a 52 week low of $73.32 and a 52 week high of $87.63. The company has a quick ratio of 0.67, a current ratio of 0.88 and a debt-to-equity ratio of 1.31.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.66 billion. Public Service Enterprise Group had a net margin of 16.04% and a return on equity of 12.42%. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, equities research analysts expect that Public Service Enterprise Group will post 4.36 EPS for the current fiscal year.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, COO Kim C. Hanemann sold 3,035 shares of the stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $82.00, for a total transaction of $248,870.00. Following the completion of the sale, the chief operating officer owned 98,815 shares of the company’s stock, valued at $8,102,830. This represents a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Richard T. Thigpen sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $74.56, for a total transaction of $596,480.00. Following the completion of the sale, the senior vice president directly owned 20,970 shares in the company, valued at approximately $1,563,523.20. This trade represents a 27.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 17,284 shares of company stock worth $1,332,751 in the last three months. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Atticus Wealth Management LLC grew its position in shares of Public Service Enterprise Group by 4.6% in the 2nd quarter. Atticus Wealth Management LLC now owns 11,643 shares of the utilities provider’s stock worth $945,000 after buying an additional 507 shares during the last quarter. Symphony Financial Ltd. Co. lifted its stake in Public Service Enterprise Group by 19.2% in the second quarter. Symphony Financial Ltd. Co. now owns 4,947 shares of the utilities provider’s stock worth $407,000 after acquiring an additional 797 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in Public Service Enterprise Group by 42.2% in the second quarter. Legacy Financial Advisors Inc. now owns 5,206 shares of the utilities provider’s stock valued at $423,000 after acquiring an additional 1,546 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Public Service Enterprise Group in the second quarter valued at $226,000. Finally, Teza Capital Management LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter valued at $240,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.