Evercore ISI Raises Public Service Enterprise Group (NYSE:PEG) Price Target to $95.00

Public Service Enterprise Group (NYSE:PEG) had its price target increased by investment analysts at Evercore ISI from $92.00 to $95.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Evercore ISI’s target price suggests a potential upside of 4.02% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Barclays upped their target price on Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday. LADENBURG THALM/SH SH raised shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 5th. Royal Bank of Canada boosted their price target on shares of Public Service Enterprise Group from $80.00 to $84.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. BMO Capital Markets raised 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. Finally, Bank of America lifted their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and an average target price of $84.62.

Public Service Enterprise Group Trading Up 1.5 %

Shares of NYSE:PEG traded up $1.35 on Tuesday, reaching $91.33. 969,786 shares of the company traded hands, compared to its average volume of 2,809,962. The stock has a market capitalization of $45.49 billion, a P/E ratio of 25.30, a price-to-earnings-growth ratio of 3.32 and a beta of 0.61. The business’s 50-day simple moving average is $82.84 and its 200 day simple moving average is $75.63. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. Public Service Enterprise Group has a 52 week low of $56.85 and a 52 week high of $92.20.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. The company’s quarterly revenue was up .1% compared to the same quarter last year. As a group, equities analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now directly owns 67,524 shares in the company, valued at $5,419,476.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the transaction, the chief executive officer now directly owns 147,514 shares of the company’s stock, valued at $13,305,762.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares in the company, valued at $5,419,476.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,446 shares of company stock worth $2,531,260 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC raised its holdings in Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock worth $178,763,000 after purchasing an additional 732,443 shares during the period. Cohen & Steers Inc. lifted its position in shares of Public Service Enterprise Group by 23.6% during the 4th quarter. Cohen & Steers Inc. now owns 2,389,722 shares of the utilities provider’s stock valued at $146,132,000 after buying an additional 455,693 shares in the last quarter. Raymond James & Associates grew its stake in shares of Public Service Enterprise Group by 315.2% during the 2nd quarter. Raymond James & Associates now owns 2,206,101 shares of the utilities provider’s stock valued at $162,590,000 after acquiring an additional 1,674,827 shares during the period. Dimensional Fund Advisors LP increased its holdings in Public Service Enterprise Group by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,734,257 shares of the utilities provider’s stock worth $127,809,000 after acquiring an additional 163,333 shares in the last quarter. Finally, Reaves W H & Co. Inc. raised its stake in Public Service Enterprise Group by 73.9% during the 1st quarter. Reaves W H & Co. Inc. now owns 1,572,001 shares of the utilities provider’s stock worth $104,978,000 after acquiring an additional 667,773 shares during the period. 73.34% of the stock is owned by institutional investors.

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.