Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $86.69 Average Price Target from Analysts

Public Service Enterprise Group Incorporated (NYSE:PEG) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $86.69.

Several brokerages have recently commented on PEG. LADENBURG THALM/SH SH raised Public Service Enterprise Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 5th. UBS Group upped their target price on shares of Public Service Enterprise Group from $94.00 to $98.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Bank of America upped their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group initiated coverage on Public Service Enterprise Group in a report on Friday, September 13th. They set a “hold” rating and a $85.00 target price on the stock.

Insider Buying and Selling

In other news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $87.95, for a total value of $518,905.00. Following the sale, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph A. Larossa sold 1,378 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The trade was a 0.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,783 shares of company stock worth $2,381,626 over the last ninety days. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Public Service Enterprise Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Heritage Wealth Management Inc. acquired a new stake in shares of Public Service Enterprise Group in the second quarter valued at about $422,000. QRG Capital Management Inc. increased its position in shares of Public Service Enterprise Group by 28.0% during the 2nd quarter. QRG Capital Management Inc. now owns 70,927 shares of the utilities provider’s stock worth $5,227,000 after purchasing an additional 15,505 shares during the last quarter. CWM LLC raised its stake in shares of Public Service Enterprise Group by 72.3% during the 2nd quarter. CWM LLC now owns 20,786 shares of the utilities provider’s stock worth $1,532,000 after purchasing an additional 8,723 shares in the last quarter. Czech National Bank boosted its holdings in shares of Public Service Enterprise Group by 8.3% in the 2nd quarter. Czech National Bank now owns 94,913 shares of the utilities provider’s stock valued at $6,995,000 after buying an additional 7,235 shares during the last quarter. Finally, Diversified Trust Co bought a new position in shares of Public Service Enterprise Group in the second quarter valued at $585,000. 73.34% of the stock is owned by institutional investors.

Public Service Enterprise Group Price Performance

Shares of NYSE:PEG opened at $87.00 on Tuesday. Public Service Enterprise Group has a 1-year low of $56.85 and a 1-year high of $92.20. The firm has a market capitalization of $43.35 billion, a PE ratio of 21.39, a PEG ratio of 3.17 and a beta of 0.61. The company has a current ratio of 0.68, a quick ratio of 0.48 and a debt-to-equity ratio of 1.18. The business’s 50 day moving average is $87.20 and its 200-day moving average is $79.69.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the prior year, the firm posted $0.85 EPS. Public Service Enterprise Group’s quarterly revenue was up 7.6% compared to the same quarter last year. Sell-side analysts predict that Public Service Enterprise Group will post 3.66 earnings per share for the current year.

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.