Public Service Enterprise Group (NYSE:PEG) Given New $103.00 Price Target at Morgan Stanley

Key Points

• Morgan Stanley has reduced the price target for Public Service Enterprise Group from $105.00 to $103.00, while maintaining an "overweight" rating, indicating a potential upside of 27.21% from the current stock price.
• Despite the price target cut, the stock has received six "Buy" ratings and four "Hold" ratings from various analysts, with an average consensus target price of $91.85.
• Public Service Enterprise Group reported stronger-than-expected quarterly earnings of $0.77 per share, exceeding estimates by $0.07, with revenue amounting to $2.81 billion for the quarter, reflecting a year-over-year increase of 15.8%.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price objective cut by stock analysts at Morgan Stanley from $105.00 to $103.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's price objective indicates a potential upside of 27.21% from the stock's current price.

Several other research firms also recently weighed in on PEG. Wall Street Zen raised shares of Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. UBS Group boosted their price objective on shares of 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. BMO Capital Markets boosted their target price on shares of 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. Finally, Barclays reduced their target price on shares of Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group currently has an average rating of "Moderate Buy" and a consensus target price of $91.85.

Public Service Enterprise Group Trading Down 1.7%

PEG stock traded down $1.43 during midday trading on Thursday, hitting $80.97. The stock had a trading volume of 1,062,116 shares, compared to its average volume of 2,841,722. The firm has a market cap of $40.41 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.00 and a quick ratio of 0.76. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $95.22. The company's 50-day moving average price is $84.38 and its 200 day moving average price is $82.14.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.07. Public Service Enterprise Group had a net margin of 17.78% and a return on equity of 12.08%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $0.63 EPS. Public Service Enterprise Group's revenue for the quarter 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. On average, equities research analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the completion of the sale, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This trade represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PEG. Twin Peaks Wealth Advisors LLC acquired a new position in Public Service Enterprise Group during the second quarter worth $25,000. Chapman Financial Group LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at $25,000. Keener Financial Planning LLC bought a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $27,000. GoalVest Advisory LLC boosted its position in shares of Public Service Enterprise Group by 166.7% in the second quarter. GoalVest Advisory LLC now owns 360 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 225 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Public Service Enterprise Group in the first quarter worth about $32,000. Institutional investors 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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