Morgan Stanley Issues Positive Forecast for Public Service Enterprise Group (NYSE:PEG) Stock Price

Public Service Enterprise Group (NYSE:PEG) had its price target raised by Morgan Stanley from $96.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

A number of other research analysts have also commented on PEG. LADENBURG THALM/SH SH lowered shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price target on the stock. in a research note on Wednesday. Scotiabank upped their price target on shares of 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. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $98.00 price target on shares of Public Service Enterprise Group in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average price target of $89.65.

Public Service Enterprise Group Stock Down 0.4 %

Shares of PEG stock opened at $83.00 on Thursday. 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 firm’s 50-day moving average is $83.50 and its 200-day moving average is $86.06. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 2.78 and a beta of 0.60. Public Service Enterprise Group has a 52-week low of $64.03 and a 52-week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the business earned $0.54 EPS. Public Service Enterprise Group’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given 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 of this dividend is Monday, March 10th. This represents a $2.52 annualized dividend and a dividend yield of 3.04%. Public Service Enterprise Group’s dividend payout ratio (DPR) is currently 71.19%.

Insider Buying and Selling

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $83.10, for a total transaction of $114,511.80. Following the sale, the chief executive officer now owns 126,791 shares in the company, valued at approximately $10,536,332.10. This trade represents a 1.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.57% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 111 Capital bought a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $349,000. Thoma Capital Management LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $253,000. Wealth Enhancement Advisory Services LLC lifted its stake in Public Service Enterprise Group by 10.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 86,525 shares of the utilities provider’s stock valued at $7,310,000 after purchasing an additional 8,022 shares during the last quarter. Siemens Fonds Invest GmbH lifted its stake in Public Service Enterprise Group by 15.2% in the 4th quarter. Siemens Fonds Invest GmbH now owns 6,211 shares of the utilities provider’s stock valued at $525,000 after purchasing an additional 820 shares during the last quarter. Finally, Park Square Financial Group LLC bought a new position in Public Service Enterprise Group in the 4th quarter valued at approximately $77,000. Institutional investors own 73.34% of the company’s stock.

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.