Public Service Enterprise Group Incorporated (NYSE:PEG) Given Average Recommendation of “Moderate Buy” by Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $89.35.

Several equities research analysts have issued reports on the stock. LADENBURG THALM/SH SH cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and set a $82.50 price objective for the company. in a research report on Wednesday, March 19th. Bank of America lowered their price target on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Barclays reduced their price objective on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley upped their target price on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, BMO Capital Markets cut their price target on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a research note on Thursday, April 10th.

Insider Activity

In related news, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the sale, the chief executive officer now owns 221,670 shares of the company’s stock, valued at $18,372,009.60. This represents a 0.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of large investors have recently made changes to their positions in the business. Transce3nd LLC acquired a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $25,000. Chapman Financial Group LLC purchased a new stake in Public Service Enterprise Group in the fourth quarter valued at about $25,000. REAP Financial Group LLC boosted its holdings in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 162 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth about $35,000. Finally, OFI Invest Asset Management acquired a new position in shares of Public Service Enterprise Group during the fourth quarter valued at about $39,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Trading Up 0.4 %

Shares of NYSE PEG opened at $83.33 on Friday. The business’s 50 day moving average price is $81.90 and its 200-day moving average price is $85.60. Public Service Enterprise Group has a fifty-two week low of $64.81 and a fifty-two week high of $95.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. The company has a market cap of $41.55 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 2.78 and a beta of 0.52.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Tuesday, February 25th. The utilities provider reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. On average, sell-side analysts expect that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.02%. This is a positive change from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

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.