Public Service Enterprise Group (NYSE:PEG) Given New $83.00 Price Target at Barclays

Public Service Enterprise Group (NYSE:PEG) had its price objective decreased by Barclays from $84.00 to $83.00 in a research note published on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

A number of other research firms have also weighed in on PEG. Guggenheim reaffirmed a “buy” rating and set a $98.00 price objective on shares of Public Service Enterprise Group in a research report on Wednesday, February 26th. BMO Capital Markets raised their price target on Public Service Enterprise Group from $85.00 to $86.00 and gave the company a “market perform” rating in a report on Wednesday, February 26th. Bank of America dropped their price target on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. LADENBURG THALM/SH SH lowered 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 note on Wednesday, March 19th. Finally, Wells Fargo & Company decreased their target price on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Public Service Enterprise Group has an average rating of “Hold” and a consensus price target of $89.35.

Public Service Enterprise Group Stock Down 0.8 %

Shares of NYSE:PEG opened at $81.21 on Tuesday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.48 and a current ratio of 0.68. Public Service Enterprise Group has a 52-week low of $64.03 and a 52-week high of $95.22. The firm has a market capitalization of $40.49 billion, a P/E ratio of 19.95, a P/E/G ratio of 2.78 and a beta of 0.52. The stock has a 50 day moving average price of $81.96 and a 200-day moving average price of $85.76.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Tuesday, February 25th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.83 by $0.01. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. As a group, equities research analysts anticipate that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Public Service Enterprise Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 3.10%. This is a boost from Public Service Enterprise Group’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, March 10th. Public Service Enterprise Group’s dividend payout ratio is presently 71.19%.

Insider Buying and Selling

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total value of $114,208.64. Following the transaction, the chief executive officer now directly owns 221,670 shares of the company’s stock, valued at approximately $18,372,009.60. This trade represents a 0.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several institutional investors have recently made changes to their positions in the business. Breakwater Capital Group boosted its stake in shares of Public Service Enterprise Group by 27.0% during the 1st quarter. Breakwater Capital Group now owns 7,303 shares of the utilities provider’s stock worth $601,000 after acquiring an additional 1,551 shares during the last quarter. Apella Capital LLC raised its holdings in Public Service Enterprise Group by 2.7% in the 1st quarter. Apella Capital LLC now owns 5,418 shares of the utilities provider’s stock worth $443,000 after purchasing an additional 144 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in Public Service Enterprise Group by 4.2% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 44,505 shares of the utilities provider’s stock valued at $3,663,000 after purchasing an additional 1,777 shares in the last quarter. Merit Financial Group LLC lifted its position in Public Service Enterprise Group by 27.0% during the first quarter. Merit Financial Group LLC now owns 13,646 shares of the utilities provider’s stock valued at $1,123,000 after purchasing an additional 2,899 shares in the last quarter. Finally, NBC Securities Inc. increased its position in Public Service Enterprise Group by 102,431.3% in the first quarter. NBC Securities Inc. now owns 49,215 shares of the utilities provider’s stock worth $4,050,000 after buying an additional 49,167 shares in the last quarter. Institutional investors own 73.34% of the company’s stock.

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.