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

Public Service Enterprise Group Incorporated (NYSE:PEG) has been given an average recommendation of “Hold” by the eighteen research firms that are currently covering the company, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $79.32.

A number of research firms recently commented on PEG. BTIG Research reduced their price target on Public Service Enterprise Group from $94.00 to $84.00 and set a “buy” rating for the company in a report on Tuesday, October 20th. Truist Financial dropped their price objective on Public Service Enterprise Group from $84.00 to $78.00 and set a “hold” rating on the stock in a research note on Thursday, October 15th. Barclays cut their price objective on Public Service Enterprise Group from $83.00 to $76.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. JPMorgan Chase & Co. reduced their target price on Public Service Enterprise Group from $81.00 to $77.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Public Service Enterprise Group in a report on Tuesday, November 3rd.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph LaRossa sold 2,083 shares of Public Service Enterprise Group stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $73.60, for a total transaction of $153,308.80. Following the completion of the transaction, the chief executive officer directly owned 276,487 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Public Service Enterprise Group

Hedge funds have recently modified their holdings of the stock. Warner Group LLC acquired a new position in Public Service Enterprise Group in the 3rd quarter valued at about $223,000. Intech Investment Management LLC lifted its position in Public Service Enterprise Group by 32.8% during the third quarter. Intech Investment Management LLC now owns 39,489 shares of the utilities provider’s stock worth $2,659,000 after acquiring an additional 9,756 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Public Service Enterprise Group by 11.7% during the third quarter. Hantz Financial Services Inc. now owns 53,052 shares of the utilities provider’s stock worth $3,573,000 after acquiring an additional 5,576 shares during the period. Danske Bank A S boosted its holdings in shares of Public Service Enterprise Group by 26.9% during the third quarter. Danske Bank A S now owns 694,900 shares of the utilities provider’s stock worth $46,795,000 after acquiring an additional 147,206 shares during the period. Finally, Ibex Wealth Advisors grew its position in shares of Public Service Enterprise Group by 6.7% in the third quarter. Ibex Wealth Advisors now owns 11,150 shares of the utilities provider’s stock valued at $751,000 after purchasing an additional 705 shares during the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

Public Service Enterprise Group Stock Performance

NYSE PEG opened at $75.04 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.67 and a debt-to-equity ratio of 1.39. The firm’s fifty day moving average price is $71.22 and its two-hundred day moving average price is $77.87. Public Service Enterprise Group has a 1 year low of $66.15 and a 1 year high of $87.63. The firm has a market capitalization of $37.41 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 2.51 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly 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 firm 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%. The business’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. As a group, research analysts anticipate that Public Service Enterprise Group will post 4.36 EPS for the current year.

About Public Service Enterprise Group

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.

The company traces its roots to the Public Service Corporation of New Jersey, established in 1903, and serves customers primarily in New Jersey.