Public Service Enterprise Group (NYSE:PEG) Given New $71.00 Price Target at Barclays

Public Service Enterprise Group (NYSE:PEG) had its price target raised by Barclays from $68.00 to $71.00 in a report published on Monday, Benzinga reports. Barclays currently has an overweight rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company raised their target price on shares of Public Service Enterprise Group from $68.00 to $70.00 and gave the company an overweight rating in a research note on Tuesday, March 19th. Evercore ISI lifted their price target on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an outperform rating in a research note on Thursday, April 4th. Morgan Stanley reaffirmed an overweight rating and set a $70.00 price target (up previously from $61.00) on shares of Public Service Enterprise Group in a research note on Monday, March 25th. BMO Capital Markets dropped their price target on shares of Public Service Enterprise Group from $64.00 to $63.00 and set a market perform rating on the stock in a research note on Tuesday, February 27th. Finally, TheStreet raised shares of Public Service Enterprise Group from a c+ rating to a b- rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $67.58.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $65.03 on Monday. The company’s fifty day simple moving average is $63.55 and its 200-day simple moving average is $61.82. Public Service Enterprise Group has a 52 week low of $53.71 and a 52 week high of $67.51. The company has a current ratio of 0.67, a quick ratio of 0.46 and a debt-to-equity ratio of 1.15. The company has a market cap of $32.42 billion, a PE ratio of 12.68, a P/E/G ratio of 2.85 and a beta of 0.58.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, February 26th. The utilities provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. Public Service Enterprise Group had a net margin of 22.81% and a return on equity of 11.53%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the firm posted $0.64 EPS. The business’s revenue for the quarter was down 17.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Public Service Enterprise Group will post 3.66 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, June 7th. Public Service Enterprise Group’s payout ratio is currently 46.78%.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the sale, the chief executive officer now owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $66.37, for a total value of $91,192.38. Following the completion of the transaction, the chief executive officer now directly owns 152,347 shares of the company’s stock, valued at approximately $10,111,270.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard T. Thigpen sold 4,800 shares of Public Service Enterprise Group stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $64.18, for a total transaction of $308,064.00. Following the completion of the transaction, the senior vice president now directly owns 31,122 shares of the company’s stock, valued at $1,997,409.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,948 shares of company stock valued at $510,300. Insiders own 0.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. River Street Advisors LLC boosted its holdings in shares of Public Service Enterprise Group by 11.8% in the 1st quarter. River Street Advisors LLC now owns 14,920 shares of the utilities provider’s stock valued at $996,000 after buying an additional 1,579 shares during the period. Fox Hill Wealth Management boosted its stake in Public Service Enterprise Group by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 18,297 shares of the utilities provider’s stock valued at $1,222,000 after purchasing an additional 702 shares during the period. Norwood Financial Corp boosted its stake in Public Service Enterprise Group by 58.3% during the 1st quarter. Norwood Financial Corp now owns 1,263 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 465 shares during the period. Edge Wealth Management LLC boosted its stake in Public Service Enterprise Group by 0.9% during the 1st quarter. Edge Wealth Management LLC now owns 120,426 shares of the utilities provider’s stock valued at $8,042,000 after purchasing an additional 1,068 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Public Service Enterprise Group by 2.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,833 shares of the utilities provider’s stock valued at $4,931,000 after purchasing an additional 1,555 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

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.