Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $72.42 Average PT from Analysts

Public Service Enterprise Group Incorporated (NYSE:PEG) has received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings 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 1 year target price among analysts that have issued ratings on the stock in the last year is $74.17.

A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Evercore ISI raised their price objective on shares of Public Service Enterprise Group from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Scotiabank dropped their target price on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Morgan Stanley cut their price target on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. Finally, BMO Capital Markets boosted their price objective on Public Service Enterprise Group from $69.00 to $74.00 and gave the company a “market perform” rating in a research report on Wednesday, July 3rd.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,374 shares of Public Service Enterprise Group stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the sale, the chief executive officer now owns 150,973 shares of the company’s stock, valued at $10,500,172.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

Several hedge funds have recently modified their holdings of PEG. Lido Advisors LLC boosted its position in Public Service Enterprise Group by 4.1% during the third quarter. Lido Advisors LLC now owns 4,622 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 183 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Public Service Enterprise Group by 22.4% in the 3rd quarter. Schroder Investment Management Group now owns 100,803 shares of the utilities provider’s stock valued at $5,737,000 after buying an additional 18,417 shares in the last quarter. Royal Bank of Canada grew its position in shares of Public Service Enterprise Group by 72.7% in the 3rd quarter. Royal Bank of Canada now owns 963,679 shares of the utilities provider’s stock worth $54,845,000 after buying an additional 405,533 shares during the last quarter. Toroso Investments LLC grew its position in shares of Public Service Enterprise Group by 18.5% in the 3rd quarter. Toroso Investments LLC now owns 16,114 shares of the utilities provider’s stock worth $917,000 after buying an additional 2,517 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Public Service Enterprise Group by 4.1% during the 3rd quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock worth $319,407,000 after acquiring an additional 221,071 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

Shares of PEG stock opened at $74.54 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.62 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group has a 12-month low of $53.71 and a 12-month high of $77.46. The stock has a market capitalization of $37.13 billion, a P/E ratio of 20.65, a P/E/G ratio of 3.09 and a beta of 0.59. The firm’s 50 day moving average is $74.09 and its 200 day moving average is $66.95.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the company posted $1.39 EPS. The firm’s revenue was down 26.5% compared to the same quarter last year. Research analysts expect that Public Service Enterprise Group will post 3.68 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, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

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.