Public Service Enterprise Group (NYSE:PEG) Given Buy (B) Rating at Weiss Ratings

Key Points

• The stock of Public Service Enterprise Group was reaffirmed with a "buy (B)" rating by Weiss Ratings, indicating strong analyst confidence in its performance.
• Analysts have set the consensus target price for the stock at $90.95, with the company currently trading around $81.83.
• Public Service Enterprise Group reported a quarterly earnings per share (EPS) of $0.77, exceeding expectations and showing a 15.8% increase in revenue year-over-year.

Public Service Enterprise Group (NYSE:PEG - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently weighed in on the company. Morgan Stanley reduced their target price on Public Service Enterprise Group from $105.00 to $103.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Barclays reduced their target price on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. UBS Group raised their price objective 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. Finally, Evercore ISI began coverage on Public Service Enterprise Group in a research report on Tuesday. They issued an "in-line" rating and a $83.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Price Performance

PEG stock opened at $81.83 on Wednesday. Public Service Enterprise Group has a 52-week low of $74.67 and a 52-week high of $95.22. The stock's fifty day simple moving average is $83.50 and its 200-day simple moving average is $82.19. The company has a quick ratio of 0.76, a current ratio of 1.00 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $40.84 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The business's revenue was up 15.8% on a year-over-year basis. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities research analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. boosted its stake in Public Service Enterprise Group by 6.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock valued at $3,922,000 after acquiring an additional 2,803 shares during the period. Sowell Financial Services LLC acquired a new position in shares of Public Service Enterprise Group during the first quarter worth approximately $298,000. Exchange Traded Concepts LLC boosted its position in shares of Public Service Enterprise Group by 12.7% during the first quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock worth $327,000 after buying an additional 447 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Public Service Enterprise Group by 2.5% during the second quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider's stock worth $5,812,000 after buying an additional 1,652 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Public Service Enterprise Group by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock worth $7,417,000 after buying an additional 3,601 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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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