Public Service Enterprise Group Incorporated (NYSE:PEG) Receives $88.81 Consensus Target Price from Brokerages

Public Service Enterprise Group Incorporated (NYSE:PEG) has received an average recommendation of “Moderate Buy” from the thirteen research firms that are currently covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $88.81.

A number of equities research analysts recently weighed in on PEG shares. LADENBURG THALM/SH SH cut 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. Guggenheim decreased their price objective on Public Service Enterprise Group from $98.00 to $94.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Barclays decreased their price objective 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. Bank of America decreased their price objective on Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, StockNews.com cut Public Service Enterprise Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 1st.

Insider Activity at Public Service Enterprise Group

In related news, CEO Ralph A. Larossa sold 1,378 shares of Public Service Enterprise Group stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $82.88, for a total transaction of $114,208.64. Following the completion of the transaction, the chief executive officer now directly owns 221,670 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by company insiders.

Institutional Trading of Public Service Enterprise Group

Institutional investors have recently bought and sold shares of the business. Transce3nd LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $25,000. Chapman Financial Group LLC acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $25,000. REAP Financial Group LLC grew its holdings in Public Service Enterprise Group by 105.9% in the fourth quarter. REAP Financial Group LLC now owns 315 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 162 shares during the period. Headlands Technologies LLC acquired a new stake in Public Service Enterprise Group in the first quarter valued at approximately $32,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Public Service Enterprise Group in the fourth quarter valued at approximately $35,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Price Performance

PEG opened at $78.86 on Tuesday. Public Service Enterprise Group has a 12-month low of $71.89 and a 12-month high of $95.22. 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 fifty day simple moving average is $80.91 and its 200-day simple moving average is $84.39. The company has a market capitalization of $39.35 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.78 and a beta of 0.48.

Public Service Enterprise Group (NYSE:PEG) last issued its quarterly earnings data on Wednesday, April 30th. The utilities provider reported $1.43 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.43. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.31 EPS. On average, equities research analysts anticipate that Public Service Enterprise Group will post 3.67 earnings per share for the current fiscal year.

Public Service Enterprise Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Monday, June 9th. Public Service Enterprise Group’s dividend payout ratio is currently 68.85%.

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.