Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $89.17 Average Price Target from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned an average rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, MarketBeat.com reports. Four investment 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 1-year price objective among brokerages that have issued a report on the stock in the last year is $89.17.

A number of equities analysts have recently commented on the company. BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $86.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, October 21st. Evercore ISI increased their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Guggenheim restated a “buy” rating on shares of Public Service Enterprise Group in a research note on Wednesday, December 11th. Barclays lowered their price objective on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd.

Insider Buying and Selling at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.91, for a total transaction of $117,005.98. Following the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $90.61, for a total transaction of $866,594.04. Following the sale, the executive vice president now directly owns 48,397 shares in the company, valued at approximately $4,385,252.17. This represents a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,798 shares of company stock valued at $1,588,631 in the last ninety days. Insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PEG. Rothschild Investment LLC acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $58,000. Graypoint LLC purchased a new stake in shares of Public Service Enterprise Group in the second quarter valued at $296,000. Summit Financial LLC acquired a new stake in shares of Public Service Enterprise Group during the second quarter valued at $443,000. Financial Counselors Inc. grew its holdings in shares of Public Service Enterprise Group by 17.3% during the second quarter. Financial Counselors Inc. now owns 5,365 shares of the utilities provider’s stock worth $395,000 after buying an additional 793 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its holdings in Public Service Enterprise Group by 4.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Up 1.4 %

Shares of PEG stock opened at $86.25 on Wednesday. The stock has a market capitalization of $42.97 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 3.18 and a beta of 0.65. Public Service Enterprise Group has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a 50 day moving average price of $87.87 and a 200 day moving average price of $83.41.

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

Public Service Enterprise Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio is currently 58.97%.

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.