Public Service Enterprise Group (NYSE:PEG) Price Target Lowered to $91.00 at Morgan Stanley

Key Points

• Morgan Stanley lowered Public Service Enterprise Group’s price target from $93 to $91 while maintaining an “overweight” rating, implying roughly 24% upside from the $73.41 share price.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $89.43; several firms recently reduced their targets or downgraded the stock.
• PEG exceeded quarterly earnings expectations with EPS of $0.86 versus $0.80 expected, although revenue fell 8.9% year over year to $2.55 billion. Shares declined 1.6% in Friday trading and were near their 12-month low.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) had its price objective cut by analysts at Morgan Stanley from $93.00 to $91.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's price objective would suggest a potential upside of 23.96% from the company's current price.

A number of other research analysts have also weighed in on PEG. Wall Street Zen lowered shares of Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Wells Fargo & Company dropped their price objective on shares of Public Service Enterprise Group from $91.00 to $89.00 and set an "overweight" rating on the stock in a report on Wednesday, August 5th. Jefferies Financial Group cut their price objective on shares of Public Service Enterprise Group from $89.00 to $78.00 and set a "hold" rating on the stock in a research report on Monday, July 20th. Citigroup lowered their target price on Public Service Enterprise Group from $91.00 to $84.00 and set a "neutral" rating for the company in a report on Wednesday, August 5th. Finally, Weiss Ratings lowered Public Service Enterprise Group from a "buy (b-)" rating to a "hold (c)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $89.43.

Public Service Enterprise Group Trading Down 1.6%

Shares of NYSE PEG traded down $1.21 during midday trading on Friday, reaching $73.41. 605,937 shares of the stock were exchanged, compared to its average volume of 2,894,738. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.88 and a quick ratio of 0.67. Public Service Enterprise Group has a 12 month low of $73.32 and a 12 month high of $87.63. The business has a 50-day simple moving average of $78.86 and a two-hundred day simple moving average of $80.42. The company has a market capitalization of $36.59 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 2.84 and a beta of 0.51.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last posted its earnings results on Tuesday, August 4th. The utilities provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.66 billion. Public Service Enterprise Group had a return on equity of 12.42% and a net margin of 16.04%.The company's revenue for the quarter was down 8.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. As a group, equities research analysts expect that Public Service Enterprise Group will post 4.36 EPS for the current year.

Insider Activity at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 2,083 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $76.47, for a total value of $159,287.01. Following the completion of the transaction, the chief executive officer directly owned 283,656 shares in the company, valued at approximately $21,691,174.32. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Kim C. Hanemann sold 3,035 shares of the business's stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $82.00, for a total value of $248,870.00. Following the sale, the chief operating officer owned 98,815 shares in the company, valued at $8,102,830. This represents a 2.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,284 shares of company stock valued at $1,332,751 over the last ninety days. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently added to or reduced their stakes in PEG. BlackRock Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $4,366,570,000. Bank of America Corp DE bought a new stake in Public Service Enterprise Group in the second quarter valued at approximately $1,207,400,000. Norges Bank bought a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $552,280,000. Legal & General Group Plc acquired a new stake in Public Service Enterprise Group during the 2nd quarter valued at approximately $554,994,000. Finally, Bank of New York Mellon Corp bought a new position in Public Service Enterprise Group during the 2nd quarter worth approximately $221,632,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

About Public Service Enterprise Group

Public Service Enterprise Group NYSE: PEG is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company's activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.

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