Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $89.00

Public Service Enterprise Group (NYSE:PEG) had its price target increased by BMO Capital Markets from $86.00 to $89.00 in a research note released on Monday morning, Benzinga reports. The firm currently has a market perform rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on the company. Evercore ISI boosted their price objective on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. UBS Group boosted their target price on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Morgan Stanley raised their price target on Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Bank of America increased their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank boosted their target price on Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.15.

Public Service Enterprise Group Trading Up 1.1 %

NYSE PEG opened at $90.73 on Monday. Public Service Enterprise Group has a one year low of $56.85 and a one year high of $92.20. The firm has a 50 day simple moving average of $85.31 and a 200-day simple moving average of $77.52. The firm has a market cap of $45.19 billion, a price-to-earnings ratio of 25.13, a PEG ratio of 2.71 and a beta of 0.61. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The business’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. Equities research analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,563 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the sale, the executive vice president now owns 57,961 shares in the company, valued at $4,610,217.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total value of $124,295.60. Following the transaction, the chief executive officer now directly owns 147,514 shares in the company, valued at approximately $13,305,762.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,010 shares of company stock worth $3,397,855. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Large investors have recently modified their holdings of the stock. Park Avenue Securities LLC lifted its stake in shares of Public Service Enterprise Group by 5.4% in the 1st quarter. Park Avenue Securities LLC now owns 26,733 shares of the utilities provider’s stock worth $1,785,000 after acquiring an additional 1,378 shares during the period. Northwest Investment Counselors LLC acquired a new position in Public Service Enterprise Group during the 1st quarter worth approximately $36,000. Gateway Investment Advisers LLC raised its stake in shares of Public Service Enterprise Group by 13.1% during the 1st quarter. Gateway Investment Advisers LLC now owns 9,406 shares of the utilities provider’s stock worth $628,000 after buying an additional 1,092 shares in the last quarter. Beech Hill Advisors Inc. lifted its holdings in shares of Public Service Enterprise Group by 3.2% in the 1st quarter. Beech Hill Advisors Inc. now owns 14,250 shares of the utilities provider’s stock valued at $952,000 after buying an additional 445 shares during the period. Finally, PFS Partners LLC boosted its stake in shares of Public Service Enterprise Group by 90.9% in the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after buying an additional 300 shares in the last quarter. Hedge funds and other institutional investors 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.