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

Public Service Enterprise Group (NYSE:PEG) had its target price lowered by equities researchers at UBS Group from $105.00 to $98.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the utilities provider’s stock. UBS Group’s price target indicates a potential upside of 23.17% from the company’s current price.

Other analysts also recently issued research reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday. TD Cowen upped their price target on shares of Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. BMO Capital Markets cut their price target on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Wall Street Zen upgraded shares of Public Service Enterprise Group from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Finally, BTIG Research started coverage on shares of Public Service Enterprise Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 target price for the company. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $90.96.

Public Service Enterprise Group Trading Down 0.5%

Public Service Enterprise Group stock traded down $0.37 during mid-day trading on Wednesday, hitting $79.56. The company’s stock had a trading volume of 1,537,029 shares, compared to its average volume of 2,823,539. The business has a 50 day moving average price of $81.82 and a 200-day moving average price of $82.73. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.93 and a quick ratio of 0.69. Public Service Enterprise Group has a 12 month low of $74.67 and a 12 month high of $91.25. The stock has a market cap of $39.71 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 2.46 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings data on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.02 by $0.11. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the business earned $0.90 earnings per share. The company’s quarterly revenue 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. As a group, analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Insider Activity

In related news, SVP Richard T. Thigpen sold 4,920 shares of Public Service Enterprise Group 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 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 trade represents a 15.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds 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 in the 2nd quarter worth approximately $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the second quarter worth $25,000. Keener Financial Planning LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter worth $27,000. Cedar Mountain Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the third quarter worth $27,000. Finally, GoalVest Advisory LLC increased its holdings in shares of Public Service Enterprise Group by 166.7% during the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 225 shares in 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.