Public Service Enterprise Group (NYSE:PEG) Given New $83.00 Price Target at BMO Capital Markets

Public Service Enterprise Group (NYSE:PEG) had its price target reduced by research analysts at BMO Capital Markets from $85.00 to $83.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 1.75% from the stock’s current price.

Several other analysts have also recently commented on the company. Wall Street Zen raised Public Service Enterprise Group from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. TD Cowen initiated coverage on Public Service Enterprise Group in a research report on Thursday, October 16th. They set a “buy” rating and a $93.00 price target for the company. Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an “in-line” rating and a $83.00 price target for the company. BTIG Research initiated coverage on Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target for the company. Finally, UBS Group raised their price target 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.04.

Public Service Enterprise Group Stock Performance

NYSE:PEG traded up $0.21 during mid-day trading on Tuesday, reaching $81.57. 215,384 shares of the stock were exchanged, compared to its average volume of 2,821,080. The company has a 50 day simple moving average of $82.10 and a 200-day simple moving average of $82.35. The stock has a market capitalization of $40.71 billion, a P/E ratio of 20.60, a P/E/G ratio of 2.46 and a beta of 0.53. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. Public Service Enterprise Group has a 1 year low of $74.67 and a 1 year high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 3rd. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.02 by $0.11. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 4.000-4.060 EPS. Analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Public Service Enterprise Group by 1.9% in the second quarter. Vanguard Group Inc. now owns 64,961,047 shares of the utilities provider’s stock worth $5,468,421,000 after acquiring an additional 1,199,371 shares in the last quarter. State Street Corp raised its stake in Public Service Enterprise Group by 0.8% during the second quarter. State Street Corp now owns 27,330,736 shares of the utilities provider’s stock valued at $2,300,701,000 after buying an additional 206,843 shares in the last quarter. Bank of America Corp DE raised its stake in Public Service Enterprise Group by 24.7% during the second quarter. Bank of America Corp DE now owns 17,536,584 shares of the utilities provider’s stock valued at $1,476,230,000 after buying an additional 3,469,886 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Public Service Enterprise Group by 0.9% in the second quarter. Geode Capital Management LLC now owns 12,526,776 shares of the utilities provider’s stock worth $1,049,973,000 after acquiring an additional 110,087 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Public Service Enterprise Group by 9.8% in the second quarter. Ameriprise Financial Inc. now owns 8,009,067 shares of the utilities provider’s stock worth $674,218,000 after acquiring an additional 715,051 shares during the last quarter. Institutional investors and hedge funds 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.