Analysts Set Public Service Enterprise Group Incorporated (NYSE:PEG) Price Target at $89.35

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $89.35.

A number of analysts recently weighed in on the stock. 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 objective on the stock. in a research report on Wednesday, March 19th. Barclays reduced their price target on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Guggenheim restated a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a report on Wednesday, February 26th. StockNews.com downgraded Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Tuesday, April 8th. Finally, BMO Capital Markets decreased their target price on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating for the company in a research report on Thursday.

Public Service Enterprise Group Stock Up 1.1 %

Shares of PEG opened at $82.14 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The stock has a market capitalization of $40.95 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 2.78 and a beta of 0.52. Public Service Enterprise Group has a 1 year low of $64.03 and a 1 year high of $95.22. The business’s 50 day simple moving average is $81.94 and its 200-day simple moving average is $85.71.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping 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 firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the firm posted $0.54 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, equities analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $0.63 dividend. This is an increase from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.52 dividend on an annualized basis and a yield of 3.07%. Public Service Enterprise Group’s payout ratio is 71.19%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the completion of the sale, the chief executive officer now directly owns 221,670 shares in the company, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Institutional Trading of Public Service Enterprise Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC raised its position in Public Service Enterprise Group by 30.3% during the 1st quarter. Princeton Global Asset Management LLC now owns 13,967 shares of the utilities provider’s stock worth $1,149,000 after buying an additional 3,250 shares during the last quarter. Procyon Advisors LLC acquired a new stake in shares of Public Service Enterprise Group in the first quarter worth $232,000. Edge Wealth Management LLC raised its holdings in shares of Public Service Enterprise Group by 2.2% during the first quarter. Edge Wealth Management LLC now owns 118,133 shares of the utilities provider’s stock worth $9,722,000 after purchasing an additional 2,556 shares during the last quarter. Armstrong Fleming & Moore Inc acquired a new position in Public Service Enterprise Group during the first quarter valued at $342,000. Finally, Breakwater Capital Group boosted its holdings in Public Service Enterprise Group by 27.0% in the first quarter. Breakwater Capital Group now owns 7,303 shares of the utilities provider’s stock valued at $601,000 after purchasing an additional 1,551 shares during 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.