Public Service Enterprise Group Inc. (PEG) Receives Average Recommendation of “Buy” from Analysts

Shares of Public Service Enterprise Group Inc. (NYSE:PEG) have earned a consensus rating of “Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $56.83.

A number of brokerages have commented on PEG. UBS Group upgraded shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $60.00 in a research note on Wednesday, October 10th. Goldman Sachs Group cut shares of Public Service Enterprise Group from a “buy” rating to a “neutral” rating and cut their price target for the company from $55.00 to $53.00 in a research note on Thursday, July 19th. Morgan Stanley cut their price target on shares of Public Service Enterprise Group from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Friday, September 21st. Citigroup increased their price target on shares of Public Service Enterprise Group from $53.00 to $54.00 and gave the company a “neutral” rating in a research note on Monday, July 9th. Finally, ValuEngine cut shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th.

In other news, Chairman Ralph Izzo sold 52,407 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $52.57, for a total value of $2,755,035.99. Following the transaction, the chairman now directly owns 558,073 shares of the company’s stock, valued at $29,337,897.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. FCG Advisors LLC increased its position in Public Service Enterprise Group by 7.8% during the third quarter. FCG Advisors LLC now owns 12,910 shares of the utilities provider’s stock worth $682,000 after acquiring an additional 938 shares during the period. Trust Co increased its position in Public Service Enterprise Group by 18.6% during the first quarter. Trust Co now owns 6,129 shares of the utilities provider’s stock worth $308,000 after acquiring an additional 961 shares during the period. Pinnacle Associates Ltd. increased its position in Public Service Enterprise Group by 3.3% during the second quarter. Pinnacle Associates Ltd. now owns 30,718 shares of the utilities provider’s stock worth $1,663,000 after acquiring an additional 993 shares during the period. Hudson Capital Management LLC increased its position in Public Service Enterprise Group by 20.5% during the second quarter. Hudson Capital Management LLC now owns 5,886 shares of the utilities provider’s stock worth $319,000 after acquiring an additional 1,000 shares during the period. Finally, State Treasurer State of Michigan increased its position in Public Service Enterprise Group by 0.7% during the second quarter. State Treasurer State of Michigan now owns 149,622 shares of the utilities provider’s stock worth $8,101,000 after acquiring an additional 1,000 shares during the period. 68.48% of the stock is currently owned by institutional investors.

Shares of PEG stock opened at $52.98 on Friday. The firm has a market capitalization of $26.78 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 2.54 and a beta of 0.28. The company has a quick ratio of 0.52, a current ratio of 0.72 and a debt-to-equity ratio of 0.90. Public Service Enterprise Group has a one year low of $46.19 and a one year high of $56.68.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings results on Tuesday, October 30th. The utilities provider reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.04. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Public Service Enterprise Group had a net margin of 23.54% and a return on equity of 11.24%. During the same quarter last year, the company posted $0.82 earnings per share. As a group, equities research analysts predict that Public Service Enterprise Group will post 3.1 earnings per share for the current fiscal year.

About Public Service Enterprise Group

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Analyst Recommendations for Public Service Enterprise Group (NYSE:PEG)

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