Public Service Enterprise Group Incorporated (NYSE:PEG) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Public Service Enterprise Group Incorporated (NYSE:PEG) have received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $90.9615.

A number of research analysts have commented on the company. Jefferies Financial Group raised Public Service Enterprise Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $89.00 to $90.00 in a report on Thursday, November 6th. UBS Group decreased their price target on shares of Public Service Enterprise Group from $105.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, December 17th. BTIG Research initiated coverage on shares of Public Service Enterprise Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $98.00 price target on the stock. BMO Capital Markets cut their price objective on shares of Public Service Enterprise Group from $85.00 to $83.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Finally, Argus upgraded shares of Public Service Enterprise Group to a “strong-buy” rating in a research report on Wednesday, January 14th.

Insiders Place Their Bets

In other news, SVP Richard T. Thigpen sold 4,920 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $82.33, for a total transaction of $405,063.60. Following the completion of the sale, the senior vice president directly owned 26,134 shares in the company, valued at approximately $2,151,612.22. This represents a 15.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Empowered Funds LLC lifted its position in Public Service Enterprise Group by 10.3% during the first quarter. Empowered Funds LLC now owns 10,103 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 940 shares during the period. Woodline Partners LP raised its position in shares of Public Service Enterprise Group by 40.7% in the 1st quarter. Woodline Partners LP now owns 42,093 shares of the utilities provider’s stock valued at $3,464,000 after buying an additional 12,172 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of Public Service Enterprise Group by 2.2% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 6,625 shares of the utilities provider’s stock worth $558,000 after acquiring an additional 143 shares during the period. Simplicity Wealth LLC bought a new stake in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $495,000. Finally, Valeo Financial Advisors LLC bought a new position in Public Service Enterprise Group in the second quarter valued at approximately $214,000. Institutional investors own 73.34% of the company’s stock.

Public Service Enterprise Group Trading Down 1.8%

Shares of NYSE:PEG opened at $80.13 on Thursday. Public Service Enterprise Group has a 12-month low of $74.67 and a 12-month high of $91.25. The business has a 50 day moving average of $80.03 and a 200-day moving average of $82.22. The company has a quick ratio of 0.69, a current ratio of 0.93 and a debt-to-equity ratio of 1.27. The stock has a market cap of $40.00 billion, a PE ratio of 19.26, a P/E/G ratio of 2.63 and a beta of 0.59.

Public Service Enterprise Group (NYSE:PEG) last announced its earnings results on Monday, November 3rd. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.11. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.80 billion. Public Service Enterprise Group had a return on equity of 12.62% and a net margin of 17.77%.The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 earnings per share. As a group, equities research analysts forecast that Public Service Enterprise Group will post 3.67 earnings per share for the current year.

Public Service Enterprise Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th were paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Wednesday, December 10th. Public Service Enterprise Group’s dividend payout ratio (DPR) is 60.58%.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.