Public Service Enterprise Group Incorporated (NYSE:PEG) Given Average Rating of “Moderate Buy” by Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEG) has earned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $86.92.

PEG has been the topic of several recent research reports. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price target on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Jefferies Financial Group began coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock. BMO Capital Markets raised their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, Barclays raised their price target on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th.

Public Service Enterprise Group Stock Down 0.6 %

Shares of NYSE:PEG opened at $89.70 on Friday. Public Service Enterprise Group has a 12 month low of $56.85 and a 12 month high of $92.20. The company’s 50-day moving average price is $84.52 and its two-hundred day moving average price is $76.79. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The firm has a market cap of $44.68 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.72 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $0.70 EPS. The firm’s revenue was up .1% compared to the same quarter last year. As a group, research analysts forecast that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares in the company, valued at approximately $12,014,095.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the transaction, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now directly owns 148,892 shares in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,010 shares of company stock valued at $3,397,855. 0.57% of the stock is owned by insiders.

Institutional Trading of Public Service Enterprise Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Smallwood Wealth Investment Management LLC grew its position in shares of Public Service Enterprise Group by 1.3% during the third quarter. Smallwood Wealth Investment Management LLC now owns 9,267 shares of the utilities provider’s stock worth $827,000 after purchasing an additional 115 shares in the last quarter. Brighton Jones LLC grew its holdings in Public Service Enterprise Group by 1.8% during the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock valued at $548,000 after buying an additional 131 shares in the last quarter. Bryn Mawr Capital Management LLC grew its holdings in Public Service Enterprise Group by 0.5% during the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock valued at $1,905,000 after buying an additional 135 shares in the last quarter. Crestwood Advisors Group LLC grew its holdings in Public Service Enterprise Group by 4.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after buying an additional 153 shares in the last quarter. Finally, Leisure Capital Management grew its holdings in Public Service Enterprise Group by 1.1% during the 3rd quarter. Leisure Capital Management now owns 14,875 shares of the utilities provider’s stock valued at $1,327,000 after buying an additional 157 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.