Analysts Set Public Service Enterprise Group Incorporated (NYSE:PEG) Target Price at $91.79

Public Service Enterprise Group Incorporated (NYSE:PEG) has been given an average recommendation of “Moderate Buy” by the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $91.2083.

PEG has been the subject of a number of research reports. Barclays increased their target price on shares of Public Service Enterprise Group from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. TD Cowen initiated coverage on shares of Public Service Enterprise Group in a report on Thursday, October 16th. They issued a “buy” rating and a $93.00 target price for the company. BMO Capital Markets dropped their target price on shares of Public Service Enterprise Group from $89.00 to $85.00 and set a “market perform” rating for the company in a report on Monday, October 20th. Wells Fargo & Company initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday. They issued an “equal weight” rating and a $88.00 target price for the company. Finally, Evercore ISI initiated coverage on shares of Public Service Enterprise Group in a report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 price objective for the company.

Public Service Enterprise Group Stock Up 0.5%

PEG stock opened at $80.73 on Tuesday. The stock has a market capitalization of $40.29 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. The company has a current ratio of 1.00, a quick ratio of 0.76 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $95.22. The firm has a 50-day moving average price of $82.18 and a 200-day moving average price of $82.39.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Public Service Enterprise Group by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock valued at $5,468,421,000 after buying an additional 1,199,371 shares during the last quarter. State Street Corp raised its holdings in Public Service Enterprise Group by 0.8% in the 2nd quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock valued at $2,300,701,000 after buying an additional 206,843 shares during the last quarter. Bank of America Corp DE raised its holdings in Public Service Enterprise Group by 24.7% in the 2nd quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after buying an additional 3,469,886 shares during the last quarter. Geode Capital Management LLC raised its holdings in Public Service Enterprise Group by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock valued at $1,049,973,000 after buying an additional 110,087 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Public Service Enterprise Group by 9.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock valued at $674,218,000 after buying an additional 715,051 shares during the last quarter. Institutional investors 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.