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

Public Service Enterprise Group Incorporated (NYSE:PEG) has earned an average rating of “Moderate Buy” from the thirteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $89.17.

A number of analysts have recently commented on PEG shares. Evercore ISI upped their price target on Public Service Enterprise Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Wells Fargo & Company increased their target price on shares of Public Service Enterprise Group from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Scotiabank boosted their price target on shares of Public Service Enterprise Group from $73.00 to $86.00 and gave the company a “sector perform” rating in a report on Thursday, December 12th. Morgan Stanley raised their price objective on Public Service Enterprise Group from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, Barclays decreased their target price on Public Service Enterprise Group from $98.00 to $88.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th.

Public Service Enterprise Group Trading Up 0.0 %

Shares of NYSE PEG opened at $84.49 on Wednesday. Public Service Enterprise Group has a fifty-two week low of $56.85 and a fifty-two week high of $95.22. The firm has a market capitalization of $42.10 billion, a P/E ratio of 20.76, a P/E/G ratio of 3.18 and a beta of 0.62. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.68 and a quick ratio of 0.48. The company’s 50 day simple moving average is $88.10 and its 200 day simple moving average is $83.39.

Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.44 billion. Public Service Enterprise Group had a return on equity of 10.70% and a net margin of 19.48%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. On average, analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current year.

Public Service Enterprise Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 10th were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, December 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.84%. Public Service Enterprise Group’s dividend payout ratio (DPR) is presently 58.97%.

Insider Buying and Selling

In other Public Service Enterprise Group news, SVP Richard T. Thigpen sold 5,900 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $87.95, for a total transaction of $518,905.00. Following the transaction, the senior vice president now owns 25,829 shares of the company’s stock, valued at $2,271,660.55. The trade was a 18.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Kim C. Hanemann sold 956 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $90.09, for a total value of $86,126.04. Following the sale, the chief operating officer now owns 70,011 shares in the company, valued at approximately $6,307,290.99. This represents a 1.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,420 shares of company stock worth $1,471,625. 0.57% of the stock is owned by insiders.

Institutional Investors Weigh In On Public Service Enterprise Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in shares of Public Service Enterprise Group during the 2nd quarter worth approximately $58,000. Graypoint LLC bought a new position in Public Service Enterprise Group during the second quarter worth $296,000. Summit Financial LLC acquired a new position in shares of Public Service Enterprise Group in the second quarter valued at $443,000. Financial Counselors Inc. raised its position in shares of Public Service Enterprise Group by 17.3% in the second quarter. Financial Counselors Inc. now owns 5,365 shares of the utilities provider’s stock valued at $395,000 after purchasing an additional 793 shares during the period. Finally, Crestwood Advisors Group LLC lifted its stake in shares of Public Service Enterprise Group by 4.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock worth $284,000 after buying an additional 153 shares during the last quarter. 73.34% of the stock is owned by institutional investors.

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.