Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $88.81 Consensus PT from Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been given an average rating of “Moderate Buy” by the thirteen research firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $88.81.

A number of brokerages recently issued reports on PEG. Morgan Stanley lifted their price target on shares of Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Barclays dropped 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 research note on Tuesday, April 8th. Evercore ISI dropped their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company dropped their target price on Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Finally, Bank of America cut their price target on shares of 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.

Public Service Enterprise Group Price Performance

Public Service Enterprise Group stock opened at $79.51 on Tuesday. 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 company’s 50 day simple moving average is $81.02 and its 200-day simple moving average is $84.62. Public Service Enterprise Group has a 1 year low of $71.89 and a 1 year high of $95.22. The company has a market capitalization of $39.67 billion, a price-to-earnings ratio of 19.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. Public Service Enterprise Group had a net margin of 19.48% and a return on equity of 10.70%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the company earned $1.31 earnings per share. The business’s quarterly revenue was up 16.7% on a year-over-year basis. As a group, equities research analysts expect 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, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s payout ratio is currently 68.85%.

Insider Activity at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the sale, the chief executive officer now directly owns 221,093 shares of the company’s stock, valued at $17,523,831.18. This trade represents a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Transce3nd LLC purchased a new position in Public Service Enterprise Group during the fourth quarter worth approximately $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group in the fourth quarter valued at about $25,000. REAP Financial Group LLC boosted its stake in shares of Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after buying an additional 162 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in Public Service Enterprise Group during the 4th quarter valued at $35,000. Finally, OFI Invest Asset Management acquired a new position in Public Service Enterprise Group in the fourth quarter worth about $39,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

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.