Public Service Enterprise Group (NYSE:PEG) Receives “Neutral” Rating from JPMorgan Chase & Co.

Public Service Enterprise Group (NYSE:PEG)‘s stock had its “neutral” rating reissued by stock analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $85.00 price objective on the utilities provider’s stock, down from their prior price objective of $88.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 6.52% from the company’s current price.

PEG has been the topic of several other research reports. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 price objective on the stock in a research note on Wednesday, January 7th. UBS Group reduced their price target on Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research report on Wednesday, December 17th. Evercore ISI started coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price target for the company. Argus upgraded Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, Wells Fargo & Company upgraded Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $88.00 to $92.00 in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Public Service Enterprise Group presently has an average rating of “Moderate Buy” and an average price target of $91.42.

Public Service Enterprise Group Stock Up 0.5%

Shares of NYSE PEG opened at $79.80 on Thursday. The company has a 50 day simple moving average of $80.36 and a 200 day simple moving average of $82.36. 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 1 year low of $74.67 and a 1 year high of $91.25. The firm has a market cap of $39.83 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 2.24 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. Public Service Enterprise Group had a net margin of 17.77% and a return on equity of 12.62%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the firm posted $0.90 EPS. The company’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. On average, research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the transaction, the senior vice president owned 26,134 shares in the company, valued at $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC boosted its position in shares of Public Service Enterprise Group by 10.3% during the 1st quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares in the last quarter. Woodline Partners LP increased its position in Public Service Enterprise Group by 40.7% in the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after buying an additional 12,172 shares in the last quarter. Sowell Financial Services LLC raised its stake in Public Service Enterprise Group by 21.2% during the 2nd quarter. Sowell Financial Services LLC now owns 4,391 shares of the utilities provider’s stock worth $370,000 after buying an additional 769 shares during the period. GAMMA Investing LLC boosted its holdings in Public Service Enterprise Group by 8.0% in the second quarter. GAMMA Investing LLC now owns 7,698 shares of the utilities provider’s stock worth $648,000 after acquiring an additional 567 shares in the last quarter. Finally, Accurate Wealth Management LLC boosted its holdings in Public Service Enterprise Group by 3.5% in the second quarter. Accurate Wealth Management LLC now owns 6,164 shares of the utilities provider’s stock worth $506,000 after acquiring an additional 210 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

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.