Analysts Set Public Service Enterprise Group Incorporated (NYSE:PEG) Target Price at $89.17

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $89.17.

Several equities analysts recently weighed in on PEG shares. Jefferies Financial Group initiated coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 price target on the stock. UBS Group increased their price objective on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets boosted their target price on shares of Public Service Enterprise Group from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, October 21st. Barclays lowered their price target on shares of Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Finally, Morgan Stanley lifted their price objective on 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.

Insider Activity

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $84.91, for a total transaction of $117,005.98. Following the completion of the sale, the chief executive officer now directly owns 144,212 shares in the company, valued at approximately $12,245,040.92. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,564 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $90.61, for a total value of $866,594.04. Following the transaction, the executive vice president now directly owns 48,397 shares of the company’s stock, valued at $4,385,252.17. The trade was a 16.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,798 shares of company stock worth $1,588,631 in the last quarter. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently bought and sold shares of PEG. Sound Shore Management Inc. CT purchased a new position in Public Service Enterprise Group in the second quarter worth approximately $71,298,000. FMR LLC increased its position in shares of Public Service Enterprise Group by 19.4% during the third quarter. FMR LLC now owns 5,401,024 shares of the utilities provider’s stock valued at $481,825,000 after acquiring an additional 877,345 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Public Service Enterprise Group by 43.2% in the 2nd quarter. Hsbc Holdings PLC now owns 2,426,170 shares of the utilities provider’s stock valued at $178,763,000 after acquiring an additional 732,443 shares during the period. Jennison Associates LLC lifted its holdings in shares of Public Service Enterprise Group by 79.5% in the 3rd quarter. Jennison Associates LLC now owns 1,502,136 shares of the utilities provider’s stock worth $134,006,000 after acquiring an additional 665,105 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of Public Service Enterprise Group by 30.1% during the 3rd quarter. Raymond James & Associates now owns 2,869,113 shares of the utilities provider’s stock worth $255,954,000 after purchasing an additional 663,012 shares during the period. 73.34% of the stock is currently owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 1.4 %

Shares of Public Service Enterprise Group stock opened at $86.25 on Wednesday. The firm’s 50 day simple moving average is $87.87 and its two-hundred day simple moving average is $83.41. The firm has a market capitalization of $42.97 billion, a price-to-earnings ratio of 21.19, a PEG ratio of 3.18 and a beta of 0.65. Public Service Enterprise Group has a 12-month low of $56.85 and a 12-month high of $95.22. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm earned $0.85 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. Analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend was Tuesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

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.