Public Service Enterprise Group (NYSE:PEG) Coverage Initiated at TD Cowen

Key Points

• TD Cowen has initiated coverage on Public Service Enterprise Group (PEG) with a buy rating and a price target of $93.00, indicating a potential upside of 9.85% from its current price.
• Analysts have varied opinions on the stock, with a consensus rating of "Moderate Buy" and an average price target of $91.14.
• Public Service Enterprise Group reported better-than-expected quarterly earnings of $0.77 EPS, with revenues of $2.81 billion, surpassing analyst expectations by 15.8% compared to last year.

Analysts at TD Cowen assumed coverage on shares of Public Service Enterprise Group (NYSE:PEG - Get Free Report) in a report released on Thursday, MarketBeat reports. The firm set a "buy" rating and a $93.00 price target on the utilities provider's stock. TD Cowen's target price indicates a potential upside of 9.85% from the stock's current price.

PEG has been the subject of a number of other research reports. Barclays lowered their price target 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. Morgan Stanley reduced 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 note on Thursday, September 25th. Evercore ISI began coverage on Public Service Enterprise Group in a research note on Tuesday, October 7th. They set an "in-line" rating and a $83.00 price objective for the company. UBS Group lifted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus price target of $91.14.

Public Service Enterprise Group Stock Performance

Shares of PEG opened at $84.66 on Thursday. The stock has a 50-day moving average of $82.86 and a two-hundred day moving average of $82.21. Public Service Enterprise Group has a one year low of $74.67 and a one year high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The stock has a market cap of $42.25 billion, a P/E ratio of 21.38, a P/E/G ratio of 2.53 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm's revenue was up 15.8% compared to the same quarter last year. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, research analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Institutional Investors Weigh In On Public Service Enterprise Group

Several large investors have recently bought and sold shares of PEG. GAMMA Investing LLC increased its stake in Public Service Enterprise Group by 4.1% during the 1st quarter. GAMMA Investing LLC now owns 7,131 shares of the utilities provider's stock worth $587,000 after buying an additional 279 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Public Service Enterprise Group by 15.8% in the first quarter. SG Americas Securities LLC now owns 11,848 shares of the utilities provider's stock valued at $975,000 after purchasing an additional 1,618 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Public Service Enterprise Group by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock valued at $7,417,000 after purchasing an additional 3,601 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Public Service Enterprise Group by 12.7% in the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock valued at $327,000 after purchasing an additional 447 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Public Service Enterprise Group by 1.2% in the first quarter. Janney Montgomery Scott LLC now owns 67,393 shares of the utilities provider's stock valued at $5,546,000 after purchasing an additional 783 shares in the last quarter. 73.34% of the stock is currently owned by hedge funds and other 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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