Wall Street Zen Upgrades Public Service Enterprise Group (NYSE:PEG) to Hold

Key Points

• Public Service Enterprise Group (NYSE:PEG) was upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment towards the stock.
• UBS Group raised its target price for PEG from $97.00 to $103.00, while other analysts provided varying target prices and ratings, with an overall average target price of $90.95.
• PEG reported a 15.8% year-over-year revenue increase, with a quarterly earnings per share (EPS) of $0.77, surpassing analysts' expectations of $0.70.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued on Saturday.

PEG has been the subject of several other research reports. UBS Group lifted their price objective on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research note on Friday, July 25th. BMO Capital Markets boosted their target price on Public Service Enterprise Group from $84.00 to $89.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Barclays decreased 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. Finally, Morgan Stanley decreased their target price on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Six equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Public Service Enterprise Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.95.

Public Service Enterprise Group Trading Down 1.2%

NYSE PEG traded down $1.00 during trading on Friday, hitting $80.12. The stock had a trading volume of 3,007,184 shares, compared to its average volume of 2,428,075. The company has a market capitalization of $39.98 billion, a PE ratio of 20.23, a PEG ratio of 2.82 and a beta of 0.50. 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 firm has a 50 day moving average price of $84.47 and a 200 day moving average price of $82.13. Public Service Enterprise Group has a twelve month low of $74.67 and a twelve month high of $95.22.

Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.Public Service Enterprise Group's revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. As a group, equities research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was 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. The trade was a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TFB Advisors LLC grew its holdings in Public Service Enterprise Group by 4.8% in the second quarter. TFB Advisors LLC now owns 2,611 shares of the utilities provider's stock valued at $220,000 after purchasing an additional 119 shares during the last quarter. Centre Asset Management LLC grew its holdings in Public Service Enterprise Group by 3.2% in the first quarter. Centre Asset Management LLC now owns 3,933 shares of the utilities provider's stock valued at $324,000 after purchasing an additional 121 shares during the last quarter. Massachusetts Wealth Management grew its holdings in Public Service Enterprise Group by 2.5% in the second quarter. Massachusetts Wealth Management now owns 5,125 shares of the utilities provider's stock valued at $431,000 after purchasing an additional 125 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in Public Service Enterprise Group by 0.8% in the second quarter. Apollon Wealth Management LLC now owns 15,621 shares of the utilities provider's stock valued at $1,315,000 after purchasing an additional 126 shares during the last quarter. Finally, FourThought Financial Partners LLC lifted its position in shares of Public Service Enterprise Group by 2.8% in the first quarter. FourThought Financial Partners LLC now owns 4,588 shares of the utilities provider's stock valued at $378,000 after acquiring an additional 127 shares in the last quarter. Hedge funds and other 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.