Public Service Enterprise Group (NYSE:PEG) Price Target Increased to $74.00 by Analysts at BMO Capital Markets

Public Service Enterprise Group (NYSE:PEG) had its price objective boosted by BMO Capital Markets from $69.00 to $74.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a market perform rating on the utilities provider’s stock.

Several other brokerages have also commented on PEG. Bank of America lifted their price target on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a buy rating in a research note on Thursday, June 6th. TheStreet raised Public Service Enterprise Group from a c+ rating to a b- rating in a report on Wednesday, March 6th. Morgan Stanley decreased their target price on Public Service Enterprise Group from $78.00 to $76.00 and set an overweight rating for the company in a research report on Monday, June 24th. Barclays lifted their price target on Public Service Enterprise Group from $68.00 to $71.00 and gave the stock an overweight rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company increased their price objective on Public Service Enterprise Group from $68.00 to $70.00 and gave the company an overweight rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $72.42.

Public Service Enterprise Group Stock Up 0.6 %

Public Service Enterprise Group stock opened at $74.01 on Wednesday. The stock has a market cap of $36.86 billion, a PE ratio of 20.50, a P/E/G ratio of 3.06 and a beta of 0.59. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.79 and a quick ratio of 0.62. The stock’s fifty day moving average is $72.97 and its two-hundred day moving average is $65.96. Public Service Enterprise Group has a 1-year low of $53.71 and a 1-year high of $75.82.

Public Service Enterprise Group (NYSE:PEG) last issued its earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a return on equity of 11.10% and a net margin of 17.65%. Public Service Enterprise Group’s revenue was down 26.5% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. On average, sell-side analysts expect that Public Service Enterprise Group will post 3.68 EPS for the current fiscal year.

Public Service Enterprise Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a yield of 3.24%. Public Service Enterprise Group’s payout ratio is currently 66.48%.

Insider Buying and Selling at Public Service Enterprise Group

In other news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $69.55, for a total transaction of $95,561.70. Following the completion of the transaction, the chief executive officer now directly owns 150,973 shares of the company’s stock, valued at approximately $10,500,172.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.18% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Public Service Enterprise Group by 13.0% in the third quarter. Vanguard Group Inc. now owns 61,673,935 shares of the utilities provider’s stock valued at $3,509,864,000 after buying an additional 7,103,657 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Public Service Enterprise Group by 2.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,020,997 shares of the utilities provider’s stock valued at $1,879,225,000 after purchasing an additional 726,613 shares in the last quarter. Morgan Stanley raised its holdings in Public Service Enterprise Group by 4.1% during the third quarter. Morgan Stanley now owns 5,612,490 shares of the utilities provider’s stock worth $319,407,000 after purchasing an additional 221,071 shares during the last quarter. Norges Bank purchased a new stake in Public Service Enterprise Group during the fourth quarter worth $215,074,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Public Service Enterprise Group by 1.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,826,477 shares of the utilities provider’s stock valued at $172,839,000 after purchasing an additional 30,469 shares during the last quarter. Hedge funds and other institutional investors own 73.34% of the company’s stock.

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.