Public Service Enterprise Group (NYSE:PEG) Upgraded to Buy at UBS Group

Public Service Enterprise Group (NYSE:PEG) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Monday,Briefing.com Automated Import reports. The brokerage currently has a $97.00 price objective on the utilities provider’s stock. UBS Group’s price target would suggest a potential upside of 18.75% from the company’s current price.

Several other research analysts have also commented on the stock. 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 report on Wednesday, March 19th. Evercore ISI lowered their price objective on shares of Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, May 1st. BMO Capital Markets cut their price objective on Public Service Enterprise Group from $86.00 to $83.00 and set a “market perform” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen lowered Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 1st. Finally, Barclays lowered their target price on Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.46.

Public Service Enterprise Group Trading Up 0.6%

NYSE:PEG opened at $81.69 on Monday. The firm has a market capitalization of $40.76 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.91 and a beta of 0.48. The company has a fifty day moving average of $80.43 and a 200 day moving average of $82.24. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 1.25. Public Service Enterprise Group has a 52 week low of $73.72 and a 52 week high of $95.22.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Wednesday, April 30th. The utilities provider reported $1.43 EPS for the quarter, meeting analysts’ consensus estimates of $1.43. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.15 billion. Public Service Enterprise Group had a return on equity of 11.80% and a net margin of 17.01%. Public Service Enterprise Group’s quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.31 EPS. On average, research analysts predict that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ralph A. Larossa sold 1,387 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $83.12, for a total value of $115,287.44. Following the transaction, the chief executive officer owned 218,328 shares in the company, valued at approximately $18,147,423.36. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

A number of hedge funds have recently added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter worth $25,000. Chapman Financial Group LLC purchased a new position in Public Service Enterprise Group in the 4th quarter worth about $25,000. REAP Financial Group LLC lifted its stake in Public Service Enterprise Group by 105.9% during the 4th quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 162 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Public Service Enterprise Group during the 1st quarter valued at about $32,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the first quarter worth approximately $33,000. 73.34% of the stock is currently owned by hedge funds and other institutional investors.

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.