BMO Capital Markets Boosts Public Service Enterprise Group (NYSE:PEG) Price Target to $89.00

Public Service Enterprise Group (NYSE:PEG) had its price objective boosted by BMO Capital Markets from $86.00 to $89.00 in a report published on Monday, Benzinga reports. The brokerage currently has a market perform rating on the utilities provider’s stock.

A number of other equities research analysts also recently weighed in on the company. Bank of America raised their price target on Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Barclays raised their price objective on shares of Public Service Enterprise Group from $80.00 to $98.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. 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. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a research note on Friday, September 13th. They set a “hold” rating and a $85.00 price target on the stock. Finally, Morgan Stanley lifted their price objective on shares of Public Service Enterprise Group from $83.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, September 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 issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $87.15.

Public Service Enterprise Group Stock Up 0.5 %

Public Service Enterprise Group stock opened at $90.17 on Monday. Public Service Enterprise Group has a twelve month low of $56.85 and a twelve month high of $92.20. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65. The firm has a market cap of $44.91 billion, a PE ratio of 24.98, a P/E/G ratio of 2.69 and a beta of 0.61. The firm’s 50 day moving average price is $84.91 and its two-hundred day moving average price is $77.26.

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 the consensus estimate 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 company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue was up .1% on a year-over-year basis. On average, research analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, 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 value of $1,535,133.02. Following the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Tamara Louise Linde sold 19,127 shares of the company’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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $90.20, for a total transaction of $124,295.60. Following the completion of the sale, the chief executive officer now owns 147,514 shares in the company, valued at approximately $13,305,762.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,010 shares of company stock worth $3,397,855. Company insiders own 0.57% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Family Firm Inc. bought a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $33,000. OFI Invest Asset Management bought a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $35,000. Northwest Investment Counselors LLC acquired a new stake in shares of Public Service Enterprise Group during the 1st quarter worth approximately $36,000. Salomon & Ludwin LLC grew its holdings in shares of Public Service Enterprise Group by 1,866.7% during 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 in the last quarter. Finally, PFS Partners LLC increased its position in shares of Public Service Enterprise Group by 90.9% during the first quarter. PFS Partners LLC now owns 630 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 300 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

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.