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

Public Service Enterprise Group Incorporated (NYSE:PEG) has received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $89.83.

Several analysts recently weighed in on PEG shares. BMO Capital Markets lifted their price objective on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company decreased their price objective on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. Finally, Scotiabank lifted their target price on Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a research note on Thursday, December 12th.

Public Service Enterprise Group Stock Up 2.3 %

Shares of PEG opened at $81.59 on Monday. The company has a market cap of $40.68 billion, a PE ratio of 20.05, a P/E/G ratio of 2.78 and a beta of 0.60. The business has a fifty day moving average of $83.74 and a 200 day moving average of $86.02. Public Service Enterprise Group has a 52-week low of $63.31 and a 52-week high of $95.22. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a dividend of $0.63 per share. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date is Monday, March 10th. This represents a $2.52 annualized dividend and a yield of 3.09%. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the transaction, the chief executive officer now owns 144,212 shares of the company’s stock, valued at approximately $12,245,040.92. This represents a 0.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds have recently bought and sold shares of the company. KBC Group NV raised its position in Public Service Enterprise Group by 162.3% in the 3rd quarter. KBC Group NV now owns 102,735 shares of the utilities provider’s stock valued at $9,165,000 after purchasing an additional 63,565 shares in the last quarter. OneDigital Investment Advisors LLC raised its position in Public Service Enterprise Group by 2.1% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 19,382 shares of the utilities provider’s stock valued at $1,729,000 after purchasing an additional 390 shares in the last quarter. CIBC Asset Management Inc raised its position in Public Service Enterprise Group by 84.6% in the 3rd quarter. CIBC Asset Management Inc now owns 147,246 shares of the utilities provider’s stock valued at $13,136,000 after purchasing an additional 67,487 shares in the last quarter. Empowered Funds LLC raised its position in Public Service Enterprise Group by 7.7% in the 3rd quarter. Empowered Funds LLC now owns 8,362 shares of the utilities provider’s stock valued at $746,000 after purchasing an additional 597 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its position in Public Service Enterprise Group by 5.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 125,618 shares of the utilities provider’s stock valued at $11,206,000 after purchasing an additional 6,193 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

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.