Brokerages Set Public Service Enterprise Group Incorporated (NYSE:PEG) Target Price at $88.81

Public Service Enterprise Group Incorporated (NYSE:PEG) has received a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $88.81.

PEG has been the subject of several research analyst reports. Evercore ISI decreased their target price on Public Service Enterprise Group from $99.00 to $92.00 and set an “outperform” rating for the company in a research report on Thursday, May 1st. Bank of America lowered their price objective on shares of Public Service Enterprise Group from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Barclays dropped their target price on shares of Public Service Enterprise Group from $84.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their price target on shares of Public Service Enterprise Group from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Morgan Stanley increased their price objective on Public Service Enterprise Group from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th.

Insider Transactions at Public Service Enterprise Group

In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $79.26, for a total transaction of $109,220.28. Following the sale, the chief executive officer now owns 221,093 shares of the company’s stock, valued at approximately $17,523,831.18. The trade was a 0.62 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds have recently made changes to their positions in the company. Foundations Investment Advisors LLC boosted its holdings in Public Service Enterprise Group by 27.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 87,621 shares of the utilities provider’s stock valued at $7,403,000 after purchasing an additional 18,627 shares during the last quarter. Cullen Investment Group LTD. boosted its stake in shares of Public Service Enterprise Group by 65.3% in the fourth quarter. Cullen Investment Group LTD. now owns 26,867 shares of the utilities provider’s stock worth $2,270,000 after acquiring an additional 10,610 shares during the last quarter. Parsons Capital Management Inc. RI purchased a new stake in shares of Public Service Enterprise Group during the fourth quarter worth $2,565,000. Czech National Bank grew its stake in Public Service Enterprise Group by 6.4% during the 4th quarter. Czech National Bank now owns 108,025 shares of the utilities provider’s stock valued at $9,127,000 after acquiring an additional 6,545 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of Public Service Enterprise Group in the fourth quarter valued at approximately $4,736,000. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Stock Down 0.4 %

NYSE PEG opened at $79.51 on Tuesday. Public Service Enterprise Group has a 52 week low of $71.89 and a 52 week high of $95.22. The firm has a market capitalization of $39.67 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.78 and a beta of 0.48. The company has a quick ratio of 0.48, a current ratio of 0.68 and a debt-to-equity ratio of 1.18. The company has a fifty day moving average of $81.02 and a two-hundred day moving average of $84.62.

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

Public Service Enterprise Group Announces Dividend

The company also recently announced 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. The ex-dividend date is Monday, June 9th. This represents a $2.52 dividend on an annualized basis and a yield of 3.17%. Public Service Enterprise Group’s payout ratio is 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.