Public Service Enterprise Group Incorporated (NYSE:PEG) Stock Has Average Target Price of $79.32 According to Brokerages

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been assigned a consensus rating of “Hold” from the eighteen research firms that are currently covering the firm, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $79.32.

Several analysts recently commented on PEG shares. Argus reduced their price objective on shares of Public Service Enterprise Group from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, September 29th. HSBC assumed coverage on shares of Public Service Enterprise Group in a research report on Thursday, October 22nd. They set a “hold” rating and a $72.50 target price on the stock. Morgan Stanley dropped their target price on shares of Public Service Enterprise Group from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. JPMorgan Chase & Co. reduced their price target on shares of Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. Finally, Royal Bank Of Canada decreased their price target on Public Service Enterprise Group from $81.00 to $76.00 in a research note on Monday, October 26th.

Public Service Enterprise Group Trading Down 0.6%

Shares of PEG stock opened at $74.26 on Friday. The business’s fifty day moving average price is $71.26 and its 200 day moving average price is $77.83. The firm has a market capitalization of $37.02 billion, a PE ratio of 20.98, a P/E/G ratio of 2.57 and a beta of 0.48. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.01 and a quick ratio of 0.78. Public Service Enterprise Group has a 1-year low of $66.15 and a 1-year high of $87.63.

Public Service Enterprise Group (NYSE:PEG) last released its earnings results on Monday, November 2nd. The utilities provider reported $1.15 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.04). The business had revenue of $3.02 billion during the quarter, compared to analyst estimates of $3.19 billion. Public Service Enterprise Group had a net margin of 14.31% and a return on equity of 12.40%. Public Service Enterprise Group’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business posted $1.13 EPS. As a group, sell-side analysts forecast that Public Service Enterprise Group will post 4.36 EPS for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph LaRossa sold 2,083 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $73.60, for a total transaction of $153,308.80. Following the sale, the chief executive officer directly owned 276,487 shares in the company, valued at approximately $20,349,443.20. The trade was a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PEG. BlackRock Inc. purchased a new stake in shares of Public Service Enterprise Group in the 2nd quarter worth about $4,366,570,000. Bank of America Corp DE acquired a new position in Public Service Enterprise Group during the second quarter worth about $1,207,400,000. Legal & General Group Plc acquired a new position in Public Service Enterprise Group during the second quarter worth about $554,994,000. Bank of New York Mellon Corp acquired a new position in Public Service Enterprise Group during the second quarter worth about $221,632,000. Finally, Amundi lifted its holdings in shares of Public Service Enterprise Group by 71.6% in the second quarter. Amundi now owns 3,962,317 shares of the utilities provider’s stock valued at $321,580,000 after purchasing an additional 1,653,832 shares in the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (PSEG) is an energy company headquartered in New Jersey. Its principal subsidiary, Public Service Electric and Gas Company (PSE&G), provides regulated electric and natural gas service to residential, commercial and industrial customers across much of the state. PSE&G operates electric and gas transmission and distribution systems and offers energy-efficiency programs. Through its generation business, PSEG also operates nuclear power plants in New Jersey, producing electricity for the regional power market.