Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Average Recommendation of “Moderate Buy” from Analysts

by · The Markets Daily

Public Service Enterprise Group Incorporated (NYSE:PEG – Get Free Report) has been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $81.46.

A number of equities analysts have recently commented on the stock. UBS Group lifted their price target on shares of Public Service Enterprise Group from $87.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, September 24th. Jefferies Financial Group assumed coverage on shares of Public Service Enterprise Group in a report on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. Barclays upped their price target on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Royal Bank of Canada lifted their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. Finally, LADENBURG THALM/SH SH upgraded Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 5th.

View Our Latest Stock Report on Public Service Enterprise Group

Public Service Enterprise Group Trading Up 0.9 %

Shares of NYSE:PEG opened at $88.25 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.46 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $43.96 billion, a PE ratio of 24.45, a P/E/G ratio of 3.20 and a beta of 0.60. Public Service Enterprise Group has a 1 year low of $53.71 and a 1 year high of $88.86. The firm has a fifty day moving average price of $81.04 and a 200 day moving average price of $74.49.

Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company posted $0.70 EPS. The business’s revenue was up .1% compared to the same quarter last year. Analysts expect that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Monday, September 9th. Public Service Enterprise Group’s dividend payout ratio is 66.48%.

Insider Transactions at Public Service Enterprise Group

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the transaction, the executive vice president now owns 67,524 shares of the company’s stock, valued at $5,419,476.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Tamara Louise Linde sold 19,127 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now directly owns 67,524 shares in the company, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. In the last three months, insiders sold 30,068 shares of company stock valued at $2,406,965. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PEG. Anchor Investment Management LLC increased its position in shares of Public Service Enterprise Group by 127.9% during the 2nd quarter. Anchor Investment Management LLC now owns 1,390 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 780 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of Public Service Enterprise Group during the second quarter worth approximately $422,000. Sanctuary Advisors LLC bought a new position in shares of Public Service Enterprise Group in the second quarter valued at approximately $6,675,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Public Service Enterprise Group in the 2nd quarter worth approximately $101,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Public Service Enterprise Group by 4.0% in the 2nd quarter. Cetera Investment Advisers now owns 125,717 shares of the utilities provider’s stock worth $9,265,000 after acquiring an additional 4,837 shares in the last quarter. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Company Profile

(Get Free Report

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.

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