Barclays Boosts Public Service Enterprise Group (NYSE:PEG) Price Target to $87.00

Public Service Enterprise Group (NYSE:PEG) had its price target hoisted by Barclays from $82.00 to $87.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective would indicate a potential upside of 3.92% from the company’s previous close.

A number of other equities analysts have also commented on the stock. UBS Group raised their price objective on shares of Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. TD Cowen assumed coverage on shares of Public Service Enterprise Group in a research report on Thursday, October 16th. They set a “buy” rating and a $93.00 price objective on the stock. Morgan Stanley reduced their target price on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $91.79.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $83.72 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. The firm’s 50 day moving average is $82.53 and its 200-day moving average is $82.29. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $95.22. The stock has a market capitalization of $41.78 billion, a P/E ratio of 21.14, a P/E/G ratio of 2.55 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.07. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities research analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. grew its position in shares of Public Service Enterprise Group by 0.7% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 45,781 shares of the utilities provider’s stock valued at $3,821,000 after purchasing an additional 318 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in Public Service Enterprise Group by 218.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 134,083 shares of the utilities provider’s stock worth $11,191,000 after buying an additional 91,946 shares during the period. D.A. Davidson & CO. lifted its holdings in shares of Public Service Enterprise Group by 5.6% during the third quarter. D.A. Davidson & CO. now owns 6,491 shares of the utilities provider’s stock worth $542,000 after buying an additional 345 shares during the last quarter. River Street Advisors LLC grew its stake in shares of Public Service Enterprise Group by 4.0% in the third quarter. River Street Advisors LLC now owns 14,899 shares of the utilities provider’s stock worth $1,243,000 after acquiring an additional 571 shares during the last quarter. Finally, Centennial Wealth Advisory LLC increased its position in Public Service Enterprise Group by 5.1% during the third quarter. Centennial Wealth Advisory LLC now owns 5,298 shares of the utilities provider’s stock worth $442,000 after acquiring an additional 258 shares during the period. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.