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

Public Service Enterprise Group Incorporated (NYSE:PEG) has been given an average rating of “Moderate Buy” by the fourteen ratings firms that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $77.92.

A number of research firms recently commented on PEG. Royal Bank of Canada lifted their target price on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. BMO Capital Markets upped their price objective on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Bank of America raised their target price on shares of Public Service Enterprise Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Guggenheim raised shares of Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Monday, June 17th. Finally, Morgan Stanley lifted their price objective on Public Service Enterprise Group from $78.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd.

Public Service Enterprise Group Stock Up 4.0 %

PEG stock opened at $86.76 on Monday. The stock has a market capitalization of $43.21 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. Public Service Enterprise Group has a 52 week low of $53.71 and a 52 week high of $86.83. The company has a quick ratio of 0.46, a current ratio of 0.65 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average of $79.70 and a 200 day moving average of $73.67.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.63 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.01). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.03 billion. Public Service Enterprise Group had a return on equity of 10.72% and a net margin of 16.12%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. Sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, September 9th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.77%. Public Service Enterprise Group’s dividend payout ratio (DPR) is 66.48%.

Insider Buying and Selling

In other news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $80.69, for a total transaction of $111,190.82. Following the completion of the sale, the chief executive officer now owns 148,892 shares of the company’s stock, valued at $12,014,095.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Ralph A. Larossa sold 1,378 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total value of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Tamara Louise Linde sold 9,563 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $79.54, for a total value of $760,641.02. Following the sale, the executive vice president now owns 57,961 shares of the company’s stock, valued at $4,610,217.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,068 shares of company stock valued at $2,406,965. 0.57% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Public Service Enterprise Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Family Firm Inc. acquired a new position in Public Service Enterprise Group during the second quarter worth $33,000. OFI Invest Asset Management acquired a new stake in Public Service Enterprise Group during the second quarter worth about $35,000. Northwest Investment Counselors LLC purchased a new position in Public Service Enterprise Group during the first quarter worth about $36,000. Salomon & Ludwin LLC boosted its holdings in Public Service Enterprise Group by 1,866.7% in the 1st quarter. Salomon & Ludwin LLC now owns 590 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 560 shares during the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at approximately $41,000. 73.34% of the stock is owned by hedge funds and other institutional investors.

Public Service Enterprise Group Company Profile

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.