UBS Group Cuts Public Service Enterprise Group (NYSE:PEG) Price Target to $98.00

by · The Cerbat Gem

Public Service Enterprise Group (NYSE:PEG – Free Report) had its price objective lowered by UBS Group from $105.00 to $98.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Public Service Enterprise Group in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on Public Service Enterprise Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a report on Friday, December 12th. Evercore ISI assumed coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They issued an “in-line” rating and a $83.00 target price on the stock. Wells Fargo & Company assumed coverage on Public Service Enterprise Group in a report on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 price target for the company. Finally, Morgan Stanley cut their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $90.96.

View Our Latest Report on PEG

Public Service Enterprise Group Stock Down 0.7%

PEG stock opened at $80.06 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.69 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average of $81.75 and a two-hundred day moving average of $82.68. The company has a market cap of $39.96 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.46 and a beta of 0.59. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $91.25.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last announced its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.90 earnings per share. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. As a group, analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Insiders Place Their Bets

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 4,920 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $82.33, for a total transaction of $405,063.60. Following the sale, the senior vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PEG. Twin Peaks Wealth Advisors LLC purchased a new position in Public Service Enterprise Group in the 2nd quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at $25,000. Cedar Mountain Advisors LLC purchased a new position in Public Service Enterprise Group in the third quarter valued at $27,000. Keener Financial Planning LLC purchased a new position in Public Service Enterprise Group in the second quarter valued at $27,000. Finally, GoalVest Advisory LLC grew its stake in Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

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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.

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