Morgan Stanley Raises Public Service Enterprise Group (NYSE:PEG) Price Target to $95.00

Public Service Enterprise Group (NYSE:PEG) had its price objective boosted by Morgan Stanley from $83.00 to $95.00 in a research report released on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

PEG has been the subject of several other reports. Bank of America lifted their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the company a buy rating in a report on Thursday, August 29th. Scotiabank boosted their price objective on shares of Public Service Enterprise Group from $62.00 to $73.00 and gave the stock a sector perform rating in a report on Tuesday, August 20th. Barclays boosted their price objective on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Royal Bank of Canada boosted their price objective 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. Finally, BMO Capital Markets boosted their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a market perform rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $81.46.

Public Service Enterprise Group Stock Performance

Public Service Enterprise Group stock opened at $87.40 on Monday. The stock’s 50 day simple moving average is $80.49 and its two-hundred day simple moving average is $74.09. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The stock has a market cap of $43.53 billion, a price-to-earnings ratio of 24.21, a PEG ratio of 3.20 and a beta of 0.60. Public Service Enterprise Group has a fifty-two week low of $53.71 and a fifty-two week high of $88.86.

Public Service Enterprise Group (NYSE:PEG) last released its 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 net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. Public Service Enterprise Group’s revenue for the quarter was up .1% on a year-over-year basis. As a group, analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s payout ratio is 66.48%.

Insider Activity

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Ralph A. Larossa sold 1,378 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total value of $111,190.82. Following the completion of the transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at approximately $12,014,095.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Tamara Louise Linde sold 9,563 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total transaction of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at approximately $4,610,217.94. The disclosure for this sale can be found here. Insiders sold a total of 30,068 shares of company stock valued at $2,406,965 in the last 90 days. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Public Service Enterprise Group by 1.8% in the 2nd quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after purchasing an additional 131 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its stake in Public Service Enterprise Group by 0.5% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock worth $1,905,000 after purchasing an additional 135 shares in the last quarter. Crestwood Advisors Group LLC lifted its stake in Public Service Enterprise Group by 4.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock worth $284,000 after purchasing an additional 153 shares in the last quarter. Evergreen Wealth Solutions LLC lifted its stake in Public Service Enterprise Group by 1.7% in the 1st quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock worth $648,000 after purchasing an additional 159 shares in the last quarter. Finally, Kowal Investment Group LLC lifted its stake in Public Service Enterprise Group by 2.7% in the 2nd quarter. Kowal Investment Group LLC now owns 5,981 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

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.