Public Service Enterprise Group Incorporated (NYSE:PEG) has earned an average rating of “Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $50.42.

Several equities analysts have recently issued reports on the stock. Bank of America Corporation assumed coverage on shares of Public Service Enterprise Group in a research note on Tuesday. They issued a “neutral” rating and a $49.00 price objective on the stock. Argus lifted their price objective on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI raised shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $46.75 to $50.00 in a research note on Monday, September 25th. Zacks Investment Research raised shares of Public Service Enterprise Group from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, July 4th. Finally, Barclays PLC raised shares of Public Service Enterprise Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $49.00 to $51.00 in a research report on Friday, September 22nd.

In related news, Chairman Ralph Izzo sold 23,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $45.23, for a total transaction of $1,058,382.00. Following the completion of the sale, the chairman now directly owns 748,474 shares in the company, valued at $33,853,479.02. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Derek M. Dirisio sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $47.11, for a total transaction of $70,665.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,613 shares of company stock valued at $7,966,307. 0.61% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV lifted its stake in Public Service Enterprise Group by 1.2% in the second quarter. KBC Group NV now owns 54,191 shares of the utilities provider’s stock valued at $2,331,000 after acquiring an additional 617 shares during the last quarter. FMR LLC lifted its stake in Public Service Enterprise Group by 1.9% in the first quarter. FMR LLC now owns 2,166,576 shares of the utilities provider’s stock valued at $96,088,000 after acquiring an additional 40,125 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Public Service Enterprise Group by 4.1% in the second quarter. Oppenheimer & Co. Inc. now owns 134,336 shares of the utilities provider’s stock valued at $5,778,000 after acquiring an additional 5,263 shares during the last quarter. People s United Financial Inc. lifted its stake in Public Service Enterprise Group by 174.1% in the second quarter. People s United Financial Inc. now owns 8,059 shares of the utilities provider’s stock valued at $347,000 after acquiring an additional 5,119 shares during the last quarter. Finally, Rench Wealth Management Inc. lifted its stake in Public Service Enterprise Group by 1.1% in the second quarter. Rench Wealth Management Inc. now owns 43,151 shares of the utilities provider’s stock valued at $1,856,000 after acquiring an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 65.89% of the company’s stock.

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Shares of Public Service Enterprise Group (NYSE:PEG) opened at 49.08 on Wednesday. The firm has a market capitalization of $24.83 billion, a price-to-earnings ratio of 55.15 and a beta of 0.38. The stock has a 50 day moving average of $47.04 and a 200 day moving average of $45.17. Public Service Enterprise Group has a 52-week low of $39.28 and a 52-week high of $49.33.

Public Service Enterprise Group (NYSE:PEG) last announced its quarterly earnings data on Friday, July 28th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.05. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.33 billion. Public Service Enterprise Group had a net margin of 4.88% and a return on equity of 11.46%. During the same quarter in the previous year, the company posted $0.57 EPS. On average, analysts predict that Public Service Enterprise Group will post $2.92 EPS for the current fiscal year.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated (PSEG) is a holding company. The Company is an energy company with operations located primarily in the Northeastern and Mid-Atlantic United States. The Company’s segments include Public Service Electric and Gas Company (PSE&G), PSEG Power LLC (Power) and Other.

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

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