BMO Capital Markets Issues Pessimistic Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Key Points

• BMO Capital Markets has lowered its target price for Public Service Enterprise Group (PEG) from $89.00 to $85.00, indicating a potential downside of 0.28% from the current stock price.
• The company reported earnings per share (EPS) of $0.77 for the most recent quarter, outperforming the consensus estimate of $0.70, with quarterly revenues rising 15.8% year-over-year.
• Currently, the stock has a consensus rating of "Moderate Buy" among analysts, with one recommending a Strong Buy, six a Buy, and five a Hold rating.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its target price lowered by investment analysts at BMO Capital Markets from $89.00 to $85.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the utilities provider's stock. BMO Capital Markets' price target would indicate a potential downside of 0.28% from the stock's current price.

A number of other research firms also recently weighed in on PEG. Weiss Ratings reiterated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. Barclays cut their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. UBS Group upped their target price on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Evercore ISI began coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an "in-line" rating and a $83.00 target price for the company. Finally, Morgan Stanley dropped their price objective on Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.77.

Public Service Enterprise Group Stock Performance

Shares of PEG stock traded up $0.49 during trading on Monday, reaching $85.24. 572,590 shares of the company's stock were exchanged, compared to its average volume of 2,840,162. The firm's fifty day moving average price is $82.74 and its 200-day moving average price is $82.23. The stock has a market capitalization of $42.54 billion, a PE ratio of 21.49, a PEG ratio of 2.60 and a beta of 0.53. Public Service Enterprise Group has a twelve month low of $74.67 and a twelve month high of $95.22. 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 (NYSE:PEG - Get Free Report) last released its quarterly earnings results 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 business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The firm's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, sell-side analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current year.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $25,000. Chapman Financial Group LLC bought a new stake in Public Service Enterprise Group in the second quarter worth approximately $25,000. Keener Financial Planning LLC acquired a new position in Public Service Enterprise Group in the second quarter valued at approximately $27,000. GoalVest Advisory LLC boosted its holdings in shares of Public Service Enterprise Group by 166.7% during the 2nd quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider's stock worth $30,000 after buying an additional 225 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Public Service Enterprise Group during the 1st quarter worth approximately $32,000. Institutional investors and hedge funds 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.

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