JPMorgan Chase & Co. Has Lowered Expectations for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $96.00 to $88.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 11.41% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $89.00 to $90.00 in a research report on Thursday, November 6th. BTIG Research began coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price on the stock. Wells Fargo & Company started coverage on Public Service Enterprise Group in a research note on Tuesday, October 28th. They set an “equal weight” rating and a $88.00 target price for the company. BMO Capital Markets dropped their price target on Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a research note on Tuesday, November 4th. Finally, Morgan Stanley cut their price target on Public Service Enterprise Group from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $91.35.

Public Service Enterprise Group Trading Up 0.0%

NYSE PEG traded up $0.03 during trading hours on Friday, reaching $78.99. The company’s stock had a trading volume of 2,240,412 shares, compared to its average volume of 2,819,440. Public Service Enterprise Group has a 52 week low of $74.67 and a 52 week high of $91.25. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. The stock has a market cap of $39.43 billion, a P/E ratio of 18.99, a P/E/G ratio of 2.40 and a beta of 0.59. The firm has a fifty day simple moving average of $81.92 and a 200-day simple moving average of $82.68.

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

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $82.33, for a total value of $405,063.60. Following the completion of the transaction, the senior vice president directly owned 26,134 shares of the company’s stock, valued at $2,151,612.22. This represents a 15.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Large investors have recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Public Service Enterprise Group during the second quarter valued at about $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group during the second quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new stake in Public Service Enterprise Group during the 2nd quarter worth approximately $27,000. Cedar Mountain Advisors LLC purchased a new stake in Public Service Enterprise Group in the 3rd quarter worth approximately $27,000. Finally, GoalVest Advisory LLC boosted its holdings in Public Service Enterprise Group by 166.7% in the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 225 shares during the period. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.