Public Service Enterprise Group (NYSE:PEG) Rating Increased to Strong-Buy at TD Cowen

Key Points

• TD Cowen has upgraded Public Service Enterprise Group (PEG) to a strong-buy rating, signaling positive market sentiment for the stock.
• The company's recent quarterly earnings showed significant growth, with a reported 15.8% increase in revenue year-over-year and EPS of $0.77, exceeding analysts' expectations.
• PEG currently has a consensus price target of $91.14 from analysts, indicating potential for upside from its recent trading levels.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) was upgraded by stock analysts at TD Cowen to a "strong-buy" rating in a research note issued on Wednesday,Zacks.com reports.

PEG has been the subject of a number of other research reports. Morgan Stanley cut their price target 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. Wall Street Zen upgraded Public Service Enterprise Group from a "sell" rating to a "hold" rating in a research report on Saturday, September 6th. Weiss Ratings restated a "buy (b)" rating on shares of Public Service Enterprise Group in a research report on Wednesday, October 8th. BMO Capital Markets raised 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 report on Wednesday, August 6th. Finally, Evercore ISI initiated coverage on Public Service Enterprise Group in a research report on Tuesday, October 7th. They set an "in-line" rating and a $83.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $91.14.

Public Service Enterprise Group Trading Down 0.5%

Shares of PEG stock opened at $84.33 on Wednesday. Public Service Enterprise Group has a 52-week low of $74.67 and a 52-week 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 firm has a market capitalization of $42.09 billion, a PE ratio of 21.30, a PEG ratio of 2.60 and a beta of 0.53. The stock has a fifty day simple moving average of $82.80 and a two-hundred day simple moving average of $82.22.

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 earnings per share (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 business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same quarter in the prior year, the business posted $0.63 EPS. Public Service Enterprise Group's revenue for the quarter 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. On average, analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Public Service Enterprise Group by 6.2% in the 1st 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 last quarter. Sowell Financial Services LLC bought a new position in shares of Public Service Enterprise Group in the 1st quarter valued at about $298,000. Janney Montgomery Scott LLC lifted its holdings in shares of Public Service Enterprise Group by 2.5% in the 2nd quarter. Janney Montgomery Scott LLC now owns 69,045 shares of the utilities provider's stock valued at $5,812,000 after acquiring an additional 1,652 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Public Service Enterprise Group by 12.7% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,977 shares of the utilities provider's stock valued at $327,000 after acquiring an additional 447 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Public Service Enterprise Group by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 90,126 shares of the utilities provider's stock valued at $7,417,000 after acquiring an additional 3,601 shares during the last quarter. 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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