Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $86.92 Average Target Price from Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEG) has earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $86.92.

PEG has been the topic of a number of recent analyst reports. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. LADENBURG THALM/SH SH upgraded shares of Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. Barclays boosted their price target on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Bank of America boosted their price objective on shares of 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. Finally, Evercore ISI boosted their price objective on shares of Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th.

Insider Activity at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 9,564 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now directly owns 48,397 shares in the company, valued at $4,385,252.17. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Ralph A. Larossa sold 1,378 shares of the 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 in the company, valued at approximately $12,014,095.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total transaction of $866,594.04. Following the completion of the transaction, the executive vice president now owns 48,397 shares of the company’s stock, valued at approximately $4,385,252.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,010 shares of company stock worth $3,397,855 in the last ninety days. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the business. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $35,000. Northwest Investment Counselors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $36,000. Salomon & Ludwin LLC grew its holdings in shares of Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 560 shares during the last quarter. Finally, PFS Partners LLC grew its holdings in shares of Public Service Enterprise Group by 90.9% in the 1st quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Up 0.1 %

NYSE PEG opened at $89.76 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.65 and a quick ratio of 0.46. The company’s 50 day simple moving average is $84.72 and its 200 day simple moving average is $77.10. Public Service Enterprise Group has a 12 month low of $56.85 and a 12 month high of $92.20. The company has a market capitalization of $44.71 billion, a P/E ratio of 24.86, a PEG ratio of 2.69 and a beta of 0.61.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (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 analyst estimates of $2.03 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Equities research analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

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.