Wall Street Zen Upgrades Public Service Enterprise Group (NYSE:PEG) to “Hold”

Wall Street Zen upgraded shares of Public Service Enterprise Group (NYSE:PEG) from a sell rating to a hold rating in a research report released on Saturday morning.

Several other analysts have also issued reports on the company. Barclays cut their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. UBS Group boosted their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. BMO Capital Markets upped their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Finally, Morgan Stanley decreased their price objective on Public Service Enterprise Group from $101.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 18th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.95.

Public Service Enterprise Group Stock Down 1.2%

Shares of NYSE:PEG opened at $80.12 on Friday. Public Service Enterprise Group has a 52-week low of $74.67 and a 52-week high of $95.22. The firm has a market capitalization of $39.98 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.82 and a beta of 0.50. The stock has a 50 day moving average price of $84.47 and a 200-day moving average price of $82.13. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data 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 company 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%.The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. 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.

Public Service Enterprise Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 63.64%.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of Public Service Enterprise Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the completion of the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Osaic Holdings Inc. increased its stake in Public Service Enterprise Group by 160.6% during the 2nd quarter. Osaic Holdings Inc. now owns 213,302 shares of the utilities provider’s stock worth $17,785,000 after buying an additional 131,442 shares in the last quarter. Evolution Wealth Management Inc. purchased a new stake in Public Service Enterprise Group in the second quarter valued at approximately $52,000. B. Riley Wealth Advisors Inc. purchased a new stake in Public Service Enterprise Group in the second quarter valued at approximately $539,000. Advisory Services Network LLC increased its position in shares of Public Service Enterprise Group by 9.6% during the second quarter. Advisory Services Network LLC now owns 46,859 shares of the utilities provider’s stock worth $4,208,000 after acquiring an additional 4,117 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Public Service Enterprise Group during the second quarter worth $5,854,000. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.