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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received an average rating of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $77.92.

Several research firms have recently commented on PEG. BMO Capital Markets raised their price target on Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Scotiabank raised their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley boosted their price target on shares of Public Service Enterprise Group from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a report on Monday, July 15th.

Insider Buying and Selling at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on 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 owns 148,892 shares in the company, valued at $12,014,095.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 19,127 shares of Public Service Enterprise Group stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $80.26, for a total value of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Insiders have sold a total of 30,068 shares of company stock worth $2,406,965 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

A number of large investors have recently made changes to their positions in PEG. Family Firm Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at approximately $33,000. OFI Invest Asset Management purchased a new stake in Public Service Enterprise Group in the 2nd quarter valued at $35,000. Northwest Investment Counselors LLC acquired a new stake in Public Service Enterprise Group during the 1st quarter worth $36,000. Salomon & Ludwin LLC grew its position in Public Service Enterprise Group by 1,866.7% during the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in Public Service Enterprise Group in the fourth quarter valued at $41,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Up 4.0 %

Shares of PEG opened at $86.76 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The firm has a market cap of $43.21 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. The company’s 50-day moving average price is $79.70 and its 200 day moving average price is $73.67. Public Service Enterprise Group has a 12-month low of $53.71 and a 12-month high of $86.83.

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 the consensus estimate 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. On average, sell-side analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.77%. The ex-dividend date is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

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.