Public Service Enterprise Group (NYSE:PEG) Now Covered by Jefferies Financial Group

Analysts at Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group (NYSE:PEG) in a report issued on Friday, MarketBeat Ratings reports. The firm set a “hold” rating and a $85.00 price target on the utilities provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 1.00% from the company’s previous close.

A number of other equities research analysts have also recently commented on PEG. BMO Capital Markets raised their price objective on Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Mizuho raised their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Bank of America raised their target price on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Morgan Stanley raised their target price on Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.92.

Public Service Enterprise Group Trading Up 1.0 %

Shares of Public Service Enterprise Group stock opened at $84.16 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. Public Service Enterprise Group has a 52 week low of $53.71 and a 52 week high of $84.18. The stock has a 50 day moving average price of $78.81 and a two-hundred day moving average price of $72.84. The stock has a market capitalization of $41.93 billion, a PE ratio of 23.31, a price-to-earnings-growth ratio of 2.99 and a beta of 0.60.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the business posted $0.70 EPS. The company’s revenue was up .1% on a year-over-year basis. As a group, equities analysts anticipate that Public Service Enterprise Group will post 3.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Public Service Enterprise Group news, EVP Tamara Louise Linde sold 9,563 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the sale, the executive vice president now directly owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Tamara Louise Linde sold 9,563 shares of Public Service Enterprise Group stock in a transaction on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the completion of the transaction, the executive vice president now directly owns 57,961 shares in the company, valued at $4,610,217.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group 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 $12,014,095.48. The disclosure for this sale can be found here. Insiders sold 30,068 shares of company stock valued at $2,406,965 over the last ninety days. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PEG. Brighton Jones LLC lifted its stake in Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after purchasing an additional 131 shares during the last quarter. Bryn Mawr Capital Management LLC lifted its stake in Public Service Enterprise Group by 0.5% during the second 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 during the last quarter. Crestwood Advisors Group LLC lifted its stake in Public Service Enterprise Group by 4.1% during the second 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 during the last quarter. Evergreen Wealth Solutions LLC lifted 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 worth $648,000 after purchasing an additional 159 shares during the last quarter. Finally, Kowal Investment Group LLC lifted its stake in shares of 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 valued at $441,000 after acquiring an additional 160 shares during the last quarter. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.