Public Service Enterprise Group (NYSE:PEG) Price Target Raised to $80.00 at Barclays

Public Service Enterprise Group (NYSE:PEG) had its target price increased by Barclays from $71.00 to $80.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the utilities provider’s stock.

PEG has been the topic of several other reports. Mizuho raised their price target on Public Service Enterprise Group from $65.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, May 23rd. Evercore ISI raised their price target on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an outperform rating in a research report on Thursday, April 4th. Bank of America raised their price target on Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a buy rating in a research report on Thursday, June 6th. Scotiabank cut their price objective on Public Service Enterprise Group from $64.00 to $62.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. Finally, Morgan Stanley cut their price objective on Public Service Enterprise Group from $78.00 to $76.00 and set an overweight rating on the stock in a research report on Monday, June 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $73.17.

Public Service Enterprise Group Stock Up 0.9 %

PEG stock opened at $76.29 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The company has a market capitalization of $38.00 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 3.10 and a beta of 0.59. Public Service Enterprise Group has a fifty-two week low of $53.71 and a fifty-two week high of $76.40. The stock has a fifty day moving average of $73.73 and a 200-day moving average of $66.50.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The firm’s revenue was down 26.5% compared to the same quarter last year. As a group, equities research analysts predict that Public Service Enterprise Group will post 3.68 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 annualized dividend and a dividend yield of 3.15%. Public Service Enterprise Group’s dividend payout ratio is presently 66.48%.

Insider Activity 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 that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at $10,500,172.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Evergreen Wealth Solutions LLC raised its stake in Public Service Enterprise Group by 1.7% during the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after buying an additional 159 shares during the last quarter. Modera Wealth Management LLC raised its stake in Public Service Enterprise Group by 2.6% during the third quarter. Modera Wealth Management LLC now owns 6,647 shares of the utilities provider’s stock valued at $378,000 after buying an additional 170 shares during the last quarter. Strategic Investment Advisors MI raised its stake in Public Service Enterprise Group by 1.0% during the fourth quarter. Strategic Investment Advisors MI now owns 17,511 shares of the utilities provider’s stock valued at $1,071,000 after buying an additional 179 shares during the last quarter. PDS Planning Inc raised its stake in Public Service Enterprise Group by 4.2% during the first quarter. PDS Planning Inc now owns 4,530 shares of the utilities provider’s stock valued at $303,000 after buying an additional 181 shares during the last quarter. Finally, Lido Advisors LLC raised its stake 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 buying an additional 183 shares during the last quarter. Hedge funds and other 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.