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

Wells Fargo & Company upgraded shares of Public Service Enterprise Group (NYSE:PEG) from an equal weight rating to an overweight rating in a report published on Tuesday, Marketbeat Ratings reports. Wells Fargo & Company currently has $92.00 price target on the utilities provider’s stock, up from their previous price target of $88.00.

A number of other research analysts also recently issued reports on PEG. Barclays lifted their price target on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of Public Service Enterprise Group in a report on Monday, December 29th. BTIG Research began 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 price objective for the company. BMO Capital Markets lowered their target price 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 note on Tuesday, November 4th. Finally, LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $87.50 target price on the stock in a report on Wednesday, January 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.96.

Public Service Enterprise Group Stock Down 0.6%

Public Service Enterprise Group stock opened at $79.28 on Tuesday. The firm has a market capitalization of $39.57 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.59 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 has a twelve month low of $74.67 and a twelve month high of $91.25. The stock’s fifty day simple moving average is $80.30 and its 200-day simple moving average is $82.33.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the business posted $0.90 earnings per share. Public Service Enterprise Group’s revenue 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. As a group, equities analysts expect that Public Service Enterprise Group will post 3.67 earnings per share 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 given a $0.63 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.2%. Public Service Enterprise Group’s payout ratio is 60.58%.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction 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 transaction, the senior vice president owned 26,134 shares in the company, valued at $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the second quarter valued at approximately $25,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the third quarter valued at approximately $27,000. Keener Financial Planning LLC purchased a new position in shares of Public Service Enterprise Group during the second quarter worth approximately $27,000. Finally, GoalVest Advisory LLC grew its position 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 acquiring an additional 225 shares during the last quarter. 73.34% of the stock is owned by hedge funds and other 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.