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

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have been given a consensus rating of “Buy” by the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $51.19.

Several brokerages recently weighed in on PEG. Guggenheim reaffirmed a “buy” rating and issued a $58.00 target price on shares of Public Service Enterprise Group in a report on Wednesday, January 3rd. Morgan Stanley increased their price objective on shares of Public Service Enterprise Group from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Zacks Investment Research downgraded shares of Public Service Enterprise Group from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Wells Fargo & Co raised shares of Public Service Enterprise Group from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 1st. Finally, Argus increased their price objective on shares of Public Service Enterprise Group from $51.00 to $56.00 and gave the company a “buy” rating in a report on Wednesday, October 25th.

In other Public Service Enterprise Group news, insider Derek M. Dirisio sold 2,185 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $51.50, for a total value of $112,527.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Ralph Izzo sold 39,960 shares of the firm’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $49.20, for a total transaction of $1,966,032.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,951 shares of company stock worth $13,143,997. Insiders own 0.61% of the company’s stock.

Several large investors have recently bought and sold shares of PEG. Vanguard Group Inc. raised its holdings in shares of Public Service Enterprise Group by 2.4% during the second quarter. Vanguard Group Inc. now owns 35,870,541 shares of the utilities provider’s stock worth $1,542,792,000 after purchasing an additional 828,458 shares during the last quarter. Nordea Investment Management AB increased its holdings in Public Service Enterprise Group by 1.8% in the third quarter. Nordea Investment Management AB now owns 11,274,720 shares of the utilities provider’s stock valued at $521,456,000 after buying an additional 199,441 shares in the last quarter. Legal & General Group Plc increased its holdings in Public Service Enterprise Group by 2.2% in the third quarter. Legal & General Group Plc now owns 3,211,024 shares of the utilities provider’s stock valued at $148,510,000 after buying an additional 70,089 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Public Service Enterprise Group by 16.3% in the third quarter. Wells Fargo & Company MN now owns 2,681,594 shares of the utilities provider’s stock valued at $124,024,000 after buying an additional 376,379 shares in the last quarter. Finally, FMR LLC increased its holdings in Public Service Enterprise Group by 20.2% in the second quarter. FMR LLC now owns 2,605,260 shares of the utilities provider’s stock valued at $112,051,000 after buying an additional 438,684 shares in the last quarter. Institutional investors and hedge funds own 66.67% of the company’s stock.

Shares of Public Service Enterprise Group (PEG) opened at $49.66 on Monday. The firm has a market cap of $25,129.89, a price-to-earnings ratio of 48.21, a price-to-earnings-growth ratio of 6.06 and a beta of 0.41. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.56 and a current ratio of 0.80. Public Service Enterprise Group has a 12 month low of $41.67 and a 12 month high of $53.28.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, October 31st. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). The company had revenue of $2.26 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Public Service Enterprise Group had a return on equity of 11.33% and a net margin of 5.73%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. equities research analysts predict that Public Service Enterprise Group will post 2.93 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were paid a dividend of $0.43 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.46%. Public Service Enterprise Group’s dividend payout ratio is presently 166.99%.

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About Public Service Enterprise Group

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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