Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $69.92 Consensus PT from Analysts

Public Service Enterprise Group Incorporated (NYSE:PEGGet Free Report) has been given a consensus rating of “Moderate Buy” by the twelve research firms that are covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $71.67.

PEG has been the subject of a number of research reports. Barclays increased their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Royal Bank of Canada raised their price objective on Public Service Enterprise Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, March 7th. Morgan Stanley boosted their target price on Public Service Enterprise Group from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 28th. Mizuho increased their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets dropped their price target on 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.

Get Our Latest Stock Report on PEG

Insider Transactions at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the transaction, the chief executive officer now owns 150,973 shares in the company, valued at approximately $10,500,172.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 2,948 shares of company stock worth $199,910. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Rockline Wealth Management LLC acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter worth $1,185,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Public Service Enterprise Group by 4.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 415,315 shares of the utilities provider’s stock worth $25,397,000 after purchasing an additional 17,838 shares during the period. Jennison Associates LLC raised its position in shares of Public Service Enterprise Group by 79.9% during the fourth quarter. Jennison Associates LLC now owns 895,450 shares of the utilities provider’s stock valued at $54,757,000 after buying an additional 397,606 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Public Service Enterprise Group by 16.6% in the fourth quarter. TD Asset Management Inc now owns 376,900 shares of the utilities provider’s stock valued at $23,047,000 after buying an additional 53,577 shares during the period. Finally, International Assets Investment Management LLC grew its position in Public Service Enterprise Group by 5,613.8% during the fourth quarter. International Assets Investment Management LLC now owns 172,443 shares of the utilities provider’s stock worth $10,545,000 after buying an additional 169,425 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $73.29 on Friday. Public Service Enterprise Group has a 12-month low of $53.71 and a 12-month high of $75.82. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. The firm has a market capitalization of $36.50 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 3.04 and a beta of 0.59. The business has a 50 day simple moving average of $71.55 and a 200 day simple moving average of $65.26.

Public Service Enterprise Group (NYSE:PEGGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. Public Service Enterprise Group’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period last year, the business posted $1.39 earnings per share. On average, equities research analysts anticipate that Public Service Enterprise Group will post 3.68 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 3.27%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 66.48%.

About Public Service Enterprise Group

(Get Free Report

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.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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