Barclays Issues Positive Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price objective hoisted by Barclays from $81.00 to $89.00 in a research report released on Thursday morning,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $85.00 target price (down from $88.00) on shares of Public Service Enterprise Group in a research note on Thursday, January 22nd. Scotiabank restated a “sector perform” rating and issued a $92.00 price objective on shares of Public Service Enterprise Group in a report on Thursday, February 26th. TD Cowen upped their target price on Public Service Enterprise Group from $93.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Argus raised Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th. Finally, Evercore upgraded Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.73.

Public Service Enterprise Group Price Performance

Shares of Public Service Enterprise Group stock opened at $83.94 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.80 and a debt-to-equity ratio of 1.28. The company has a market cap of $41.86 billion, a PE ratio of 19.89, a P/E/G ratio of 2.74 and a beta of 0.60. The business has a 50 day moving average of $81.76 and a 200 day moving average of $81.83. Public Service Enterprise Group has a 52 week low of $74.67 and a 52 week high of $91.25.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, February 26th. The utilities provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.68 billion. Public Service Enterprise Group had a net margin of 17.35% and a return on equity of 12.11%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.67 per share. The ex-dividend date is Tuesday, March 10th. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 59.72%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,700 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $83.00, for a total value of $390,100.00. Following the sale, the senior vice president directly owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. The trade was a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Large investors have recently modified their holdings of the stock. Norges Bank purchased a new stake in Public Service Enterprise Group during the 4th quarter valued at about $552,280,000. Bank of America Corp DE lifted its stake in shares of Public Service Enterprise Group by 24.7% in the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock worth $1,476,230,000 after buying an additional 3,469,886 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Public Service Enterprise Group by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares in the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Public Service Enterprise Group by 174.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 2,810,761 shares of the utilities provider’s stock valued at $225,704,000 after buying an additional 1,788,449 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Public Service Enterprise Group by 27.8% during the second quarter. Invesco Ltd. now owns 6,473,897 shares of the utilities provider’s stock valued at $544,973,000 after acquiring an additional 1,408,707 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.