Public Service Enterprise Group (NYSE:PEG) Upgraded at Wells Fargo & Company

Public Service Enterprise Group (NYSE:PEG) was upgraded by equities researchers at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Tuesday. The firm presently has a $92.00 price target on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 15.88% from the company’s previous close.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered their target price on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Morgan Stanley lowered 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. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. BMO Capital Markets reduced their price target 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. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.65.

Public Service Enterprise Group Stock Down 0.0%

PEG stock opened at $79.39 on Tuesday. Public Service Enterprise Group has a 52 week low of $74.67 and a 52 week high of $91.25. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The company has a market cap of $39.63 billion, a P/E ratio of 19.08, a P/E/G ratio of 2.24 and a beta of 0.60. The company’s 50-day moving average price is $80.52 and its 200 day moving average price is $82.39.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. On average, research analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were 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 approximately $2,151,612.22. The trade was a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently made changes to their positions in PEG. Twin Peaks Wealth Advisors LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at $25,000. Chapman Financial Group LLC purchased a new stake in shares of Public Service Enterprise Group during the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC purchased a new stake in Public Service Enterprise Group during the 3rd quarter worth $27,000. Keener Financial Planning LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter worth about $27,000. Finally, GoalVest Advisory LLC raised its position in shares of Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds 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.