Barclays Raises Public Service Enterprise Group (NYSE:PEG) Price Target to $87.00

Key Points

• Barclays has raised the price target for Public Service Enterprise Group (PEG) from $82.00 to $87.00, indicating a potential upside of 4.66% from the previous close.
• PEG's stock is currently rated with an average consensus of Moderate Buy, with a consensus price target of $91.23.
• During midday trading, PEG shares were down 2.0%, reaching $83.12, with a market cap of $41.49 billion and a price-to-earnings ratio of 20.99.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its target price raised by research analysts at Barclays from $82.00 to $87.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the utilities provider's stock. Barclays's price target suggests a potential upside of 4.66% from the stock's previous close.

Several other research firms also recently issued reports on PEG. Morgan Stanley decreased their price objective on shares of Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a report on Wednesday, October 8th. TD Cowen started coverage on Public Service Enterprise Group in a report on Thursday, October 16th. They issued a "buy" rating and a $93.00 price target for the company. Wall Street Zen raised Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Finally, BMO Capital Markets decreased their target price on Public Service Enterprise Group from $89.00 to $85.00 and set a "market perform" rating for the company in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $91.23.

Public Service Enterprise Group Trading Down 2.0%

Shares of NYSE:PEG traded down $1.71 during midday trading on Tuesday, reaching $83.12. The company's stock had a trading volume of 1,958,859 shares, compared to its average volume of 2,843,795. The firm has a market cap of $41.49 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 2.60 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. The business has a 50 day moving average price of $82.70 and a 200 day moving average price of $82.28.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The business's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current year.

Hedge Funds Weigh In On Public Service Enterprise Group

Several large investors have recently added to or reduced their stakes in PEG. GAMMA Investing LLC raised its stake in Public Service Enterprise Group by 4.1% during the first quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider's stock worth $587,000 after acquiring an additional 279 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Public Service Enterprise Group by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after purchasing an additional 3,601 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Public Service Enterprise Group by 0.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 67,260 shares of the utilities provider's stock worth $5,536,000 after purchasing an additional 349 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in Public Service Enterprise Group by 18.7% during the 1st quarter. Oppenheimer & Co. Inc. now owns 117,272 shares of the utilities provider's stock valued at $9,651,000 after purchasing an additional 18,503 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Public Service Enterprise Group by 10.7% during the 1st quarter. Asset Management One Co. Ltd. now owns 339,197 shares of the utilities provider's stock worth $27,916,000 after buying an additional 32,697 shares during the last quarter. 73.34% of the stock is currently owned by 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.

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