Public Service Enterprise Group (NYSE:PEG) Upgraded to “Buy” at LADENBURG THALM/SH SH

Public Service Enterprise Group (NYSE:PEG) was upgraded by stock analysts at LADENBURG THALM/SH SH from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday,Finviz reports. The firm presently has a $87.50 target price on the utilities provider’s stock. LADENBURG THALM/SH SH’s price target indicates a potential upside of 11.24% from the company’s current price.

Several other analysts also recently issued reports on the company. TD Cowen increased their price target on Public Service Enterprise Group from $93.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Wells Fargo & Company initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 28th. They issued an “equal weight” rating and a $88.00 target price for the company. Jefferies Financial Group upgraded Public Service Enterprise Group from a “hold” rating to a “buy” rating and raised their target price for the company from $89.00 to $90.00 in a report on Thursday, November 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Public Service Enterprise Group in a research report on Monday, December 29th. Finally, UBS Group lowered their price objective on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, December 17th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of “Moderate Buy” and an average target price of $91.35.

Public Service Enterprise Group Stock Down 0.9%

Shares of NYSE:PEG opened at $78.66 on Wednesday. Public Service Enterprise Group has a 1 year low of $74.67 and a 1 year high of $91.25. The stock has a 50-day simple moving average of $81.03 and a 200-day simple moving average of $82.66. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.69 and a current ratio of 0.93. The stock has a market capitalization of $39.26 billion, a P/E ratio of 18.91, a PEG ratio of 2.23 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the company posted $0.90 earnings per share. Public Service Enterprise Group’s revenue was up 22.1% compared to the same quarter last year. 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 year.

Insiders Place Their Bets

In other 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 value of $405,063.60. Following the completion of the sale, the senior vice president owned 26,134 shares of the company’s stock, valued at approximately $2,151,612.22. The trade was a 15.84% decrease in their position. The transaction 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.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in Public Service Enterprise Group by 7.7% during the 1st quarter. Advisors Asset Management Inc. now owns 10,183 shares of the utilities provider’s stock worth $838,000 after buying an additional 726 shares during the last quarter. Integrated Wealth Concepts LLC lifted its stake in Public Service Enterprise Group by 5.6% during the first quarter. Integrated Wealth Concepts LLC now owns 14,034 shares of the utilities provider’s stock worth $1,155,000 after purchasing an additional 744 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Public Service Enterprise Group by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 78,290 shares of the utilities provider’s stock worth $6,443,000 after purchasing an additional 14,940 shares during the last quarter. Caxton Associates LLP acquired a new position in Public Service Enterprise Group in the first quarter worth $388,000. Finally, MBB Public Markets I LLC bought a new stake in Public Service Enterprise Group during the first quarter valued at $314,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

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.