Public Service Enterprise Group (NYSE:PEG) PT Raised to $86.00

Public Service Enterprise Group (NYSE:PEG) had its price target increased by research analysts at BMO Capital Markets from $78.00 to $86.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ target price suggests a potential upside of 9.25% from the stock’s previous close.

Several other research firms also recently issued reports on PEG. Guggenheim raised Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Monday, June 17th. Royal Bank of Canada lifted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Morgan Stanley decreased 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. Bank of America lifted their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Finally, Scotiabank reduced their price target 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $75.17.

Public Service Enterprise Group Price Performance

PEG stock traded down $1.03 during trading on Friday, reaching $78.72. 2,282,426 shares of the company were exchanged, compared to its average volume of 2,843,889. The company has a market capitalization of $39.22 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 3.15 and a beta of 0.59. 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 company has a 50-day moving average of $74.65 and a two-hundred day moving average of $68.11. Public Service Enterprise Group has a twelve month low of $53.71 and a twelve month high of $81.89.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.78% and a net margin of 16.12%. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the company posted $0.70 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. As a group, equities analysts predict that Public Service Enterprise Group will post 3.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Addison Advisors LLC purchased a new stake in Public Service Enterprise Group in the 4th quarter worth approximately $31,000. Family Firm Inc. purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter valued at about $33,000. OFI Invest Asset Management bought a new position in shares of Public Service Enterprise Group in the second quarter worth approximately $35,000. Northwest Investment Counselors LLC purchased a new stake in Public Service Enterprise Group in the first quarter valued at approximately $36,000. Finally, Salomon & Ludwin LLC increased its holdings in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after buying an additional 560 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.