Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Average Recommendation of “Moderate Buy” from Analysts

Public Service Enterprise Group Incorporated (NYSE:PEG) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $88.08.

A number of brokerages have weighed in on PEG. Bank of America increased their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Wells Fargo & Company raised their price objective on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Scotiabank raised their target price on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Barclays reduced their target price on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Morgan Stanley raised their target price on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd.

Public Service Enterprise Group Stock Down 1.6 %

PEG stock opened at $90.01 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. Public Service Enterprise Group has a twelve month low of $56.85 and a twelve month high of $95.22. The firm has a 50 day simple moving average of $89.62 and a 200-day simple moving average of $81.82. The company has a market capitalization of $44.85 billion, a P/E ratio of 22.12, a PEG ratio of 3.34 and a beta of 0.62.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm earned $0.85 EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, equities research analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

Insider Activity

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,564 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. This trade represents a 16.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Kim C. Hanemann sold 956 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total transaction of $86,126.04. Following the completion of the sale, the chief operating officer now owns 70,011 shares in the company, valued at $6,307,290.99. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,361 shares of company stock worth $2,356,562. 0.57% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several institutional investors have recently made changes to their positions in PEG. Family Firm Inc. acquired a new position in Public Service Enterprise Group in the second quarter valued at about $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $35,000. Ashton Thomas Securities LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group during the third quarter worth approximately $48,000. Finally, Friedenthal Financial acquired a new position in Public Service Enterprise Group during the second quarter valued at approximately $52,000. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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.