Public Service Enterprise Group (NYSE:PEG) Raised to Hold at Evercore ISI

Key Points

• Public Service Enterprise Group has been upgraded to a "hold" rating by Evercore ISI, reflecting a cautious outlook on the stock's performance.
• Analysts have varying opinions on the stock's valuation, with UBS raising its price target from $97 to $103 and Morgan Stanley lowering theirs from $105 to $103.
• The company reported a 15.8% year-over-year increase in revenue, achieving $2.81 billion and exceeding analyst expectations.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) was upgraded by analysts at Evercore ISI to a "hold" rating in a research note issued on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. UBS Group increased their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Morgan Stanley decreased 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. BMO Capital Markets increased their price objective on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Weiss Ratings reissued a "buy (b)" rating on shares of Public Service Enterprise Group in a research note on Saturday, September 27th. Finally, 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 note on Thursday, July 10th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Stock Down 1.7%

Shares of NYSE PEG opened at $80.44 on Monday. The stock has a market cap of $40.14 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.85 and a beta of 0.53. 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 has a 52-week low of $74.67 and a 52-week high of $95.22. The business has a 50-day moving average price of $83.65 and a 200 day moving average price of $82.20.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last announced its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.49 billion. During the same period in the prior year, the firm earned $0.63 EPS. 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 forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PEG. Robeco Institutional Asset Management B.V. lifted its stake in shares of Public Service Enterprise Group by 6.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 47,659 shares of the utilities provider's stock worth $3,922,000 after purchasing an additional 2,803 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Public Service Enterprise Group during the first quarter worth about $298,000. Exchange Traded Concepts LLC increased 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 acquiring an additional 447 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased 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 acquiring an additional 3,601 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased 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 acquiring an additional 1,652 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company's stock.

Public Service Enterprise Group Company Profile

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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