Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) Target Price at $72.42

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $73.17.

A number of equities analysts have recently commented on PEG shares. 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 report on Wednesday. BMO Capital Markets lifted their price objective on shares of Public Service Enterprise Group from $69.00 to $74.00 and gave the company a “market perform” rating in a report on Wednesday, July 3rd. Scotiabank cut their price objective on shares of Public Service Enterprise Group from $64.00 to $62.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Bank of America lifted their price objective on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Finally, Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, June 17th.

Insider Transactions at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now owns 150,973 shares in the company, valued at $10,500,172.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Lido Advisors LLC grew its holdings in Public Service Enterprise Group by 4.1% in 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 during the period. Schroder Investment Management Group grew its holdings in Public Service Enterprise Group by 22.4% in the third quarter. Schroder Investment Management Group now owns 100,803 shares of the utilities provider’s stock valued at $5,737,000 after purchasing an additional 18,417 shares during the period. Royal Bank of Canada grew its holdings in Public Service Enterprise Group by 72.7% in the third quarter. Royal Bank of Canada now owns 963,679 shares of the utilities provider’s stock valued at $54,845,000 after purchasing an additional 405,533 shares during the period. Toroso Investments LLC grew its holdings in Public Service Enterprise Group by 18.5% in the third quarter. Toroso Investments LLC now owns 16,114 shares of the utilities provider’s stock valued at $917,000 after purchasing an additional 2,517 shares during the period. Finally, Morgan Stanley grew its holdings in Public Service Enterprise Group by 4.1% in the third quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock valued at $319,407,000 after purchasing an additional 221,071 shares during the period. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Down 0.3 %

Shares of Public Service Enterprise Group stock opened at $76.28 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.79 and a debt-to-equity ratio of 1.19. Public Service Enterprise Group has a twelve month low of $53.71 and a twelve month high of $77.46. The business has a 50-day moving average price of $73.98 and a 200-day moving average price of $66.67. The firm has a market cap of $37.99 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 3.17 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 EPS 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 business had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the previous year, the business posted $1.39 EPS. The firm’s revenue was down 26.5% on a year-over-year basis. Equities research analysts anticipate that Public Service Enterprise Group will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid 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 payout ratio is currently 66.48%.

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.